Canaccord Genuity Group Reaffirms Buy Rating for Touchstone Exploration (LON:TXP)

Touchstone Exploration (LON:TXP)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a research note issued on Thursday,London Stock Exchange reports. They currently have a GBX 60 ($0.78) target price on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 164.32% from the company’s current price.

TXP has been the subject of several other reports. Shore Capital reissued a “house stock” rating on shares of Touchstone Exploration in a report on Thursday. Canaccord Genuity Group reissued a “speculative buy” rating and set a GBX 60 ($0.78) target price on shares of Touchstone Exploration in a report on Friday, December 13th.

Touchstone Exploration Stock Performance

Shares of TXP stock traded down GBX 0.55 ($0.01) during midday trading on Thursday, hitting GBX 22.70 ($0.30). 844,152 shares of the company were exchanged, compared to its average volume of 534,435. Touchstone Exploration has a 52 week low of GBX 20.28 ($0.26) and a 52 week high of GBX 54 ($0.70). The firm has a market capitalization of £66.84 million, a P/E ratio of -7.60 and a beta of 0.70. The firm’s 50 day moving average price is GBX 23.93 and its two-hundred day moving average price is GBX 27.90.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.