Shawcor Ltd (SCL) Stock Rating Upgraded by Scotiabank

Shawcor Ltd (TSE:SCL) was upgraded by stock analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a C$32.00 price objective on the stock. Scotiabank’s price objective would suggest a potential upside of 23.79% from the company’s current price.

A number of other equities analysts have also weighed in on SCL. TD Securities set a C$33.00 price objective on Shawcor and gave the stock a “buy” rating in a research note on Saturday, September 23rd. National Bank Financial upped their price objective on Shawcor from C$35.00 to C$36.00 in a research note on Monday. Finally, BMO Capital Markets dropped their price objective on Shawcor from C$42.00 to C$36.00 in a research note on Monday, August 14th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$36.00.

Shawcor (TSE:SCL) traded down C$0.24 during midday trading on Tuesday, hitting C$25.85. The stock had a trading volume of 179,085 shares, compared to its average volume of 129,590. Shawcor has a 1 year low of C$24.20 and a 1 year high of C$39.95.

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About Shawcor

Shawcor Ltd is a Canada-based energy services company. The Company is engaged in designing, engineering, marketing and selling products and services, such as pipe coating services; flexible composite pipe; onshore and offshore pipeline corrosion and thermal protection; ultrasonic and radiographic inspection services; tubular management services; heat-shrinkable polymer tubing, and control and instrumentation wire and cable.

Analyst Recommendations for Shawcor (TSE:SCL)

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