Topaz Energy Corp (TPZ – Research Report), the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Jeremy Mccrea from BMO Capital maintained a Buy rating on the stock and has a C$32.00 price target.
Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Topaz Energy Corp’s strong position in the market. The company benefits from its unique structure as a royalty company, which provides stability and growth potential even in uncertain economic conditions. Topaz’s significant increase in 2P reserves by 23% and its active land operations signal promising growth prospects, supported by its 2025 guidance.
Additionally, Topaz’s financial performance is robust, with quarterly cash flow slightly exceeding consensus expectations. The company’s profitability is evident in its ability to create additional value for each dollar spent, with a notable increase in PDP reserve value. Furthermore, Topaz’s leverage has decreased, indicating a strong financial position. These factors, combined with its strategic assets in key Canadian basins, make Topaz a compelling investment opportunity.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a C$32.00 price target.