Touchstone Exploration (LON:TXP) Receives Buy Rating from Canaccord Genuity Group

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

Several other research firms have also issued reports on TXP. Canaccord Genuity Group reiterated 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. Shore Capital reiterated a “house stock” rating on shares of Touchstone Exploration in a research note on Thursday.

Touchstone Exploration Price Performance

LON:TXP traded down GBX 0.55 ($0.01) on Thursday, hitting GBX 22.70 ($0.30). 844,152 shares of the company’s stock were exchanged, compared to its average volume of 534,435. The firm has a 50-day moving average price of GBX 23.93 and a 200-day moving average price of GBX 27.90. Touchstone Exploration has a 52 week low of GBX 20.28 ($0.26) and a 52 week high of GBX 54 ($0.70). The company has a market cap of £66.84 million, a P/E ratio of -7.60 and a beta of 0.70.

About Touchstone Exploration

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.