BMO upgrades Cardinal Energy stock rating on Reford project growth
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump suspends Iran strikes for two weeks as Tehran tentatively accepts ceasefire Oil slumps 15% as Trump touts Iran ceasefire, vows help on Hormuz traffic Stocks eke out gain as Pakistan asks for Iran deadline extension, 2-week ceasefire Iran latest: Pakistan asks Trump for extension as key deadline approaches (South Africa Philippines Nigeria) BMO upgrades Cardinal Energy stock rating on Reford project growth By Analyst Ratings Published 04/08/2026, 04:07 AM BMO upgrades Cardinal Energy stock rating on Reford project growth 0 CJ 6.81% Investing.com - BMO Capital upgraded Cardinal Energy Ltd (TSX:CJ) (OTC:CRLFF) to Outperform from Market Perform and raised its price target to Cdn$13.00 from Cdn$9.50. The stock has surged 162% over the past year and trades near its 52-week high, though InvestingPro data suggests the shares may be overvalued at current levels based on Fair Value analysis. The firm cited the buildout of Reford as a meaningful turning point for the company, enabling volume growth and an improved cost structure. Cardinal Energy is proceeding with a second Reford project and has identified another Saskatchewan thermal asset at Kelfield, BMO Capital said. The firm noted that the improving oil dynamic has accelerated deleveraging for the company. BMO Capital said the oil market conditions are paving the way for further SAGD development at Cardinal Energy. According to InvestingPro Tips, the company operates with a moderate level of debt and remains profitable, with analysts forecasting continued profitability this year. Subscribers have access to 11 additional ProTips for deeper investment insights. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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