Scotiabank lowered the firm’s price target on Baytex Energy (BTE) to C$3.50 from C$5.50 and keeps a Sector Perform rating on the shares. The firm is updating its price targets on the Canadian E&P stocks in its coverage, the analyst tells investors. The firm expects weak global oil prices to weigh on Canadian oil benchmarks in 2025 and 2026.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BTE:
- Baytex Energy price target lowered to C$4.25 from C$5 at CIBC
- Baytex Energy Announces Virtual Annual Shareholders Meeting
- Gibson and Baytex Forge Strategic Partnership for Pembina Duvernay Development
- Baytex Energy (BTE) Declares Q2 Dividend: Important Details for Shareholders
- Baytex Energy Reports Strong 2024 Financial Results