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A statement released earlier today by Canaccord Genuity about Pengrowth Energy (TSE:PGF) bumps the target price to $2.40

Yesterday Pengrowth Energy (TSE:PGF) traded 0.45% higher at $2.24. The company’s 50-day moving average is $2.02 and its 200-day moving average is $2.04. The last stock close price is up 10.01% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,167,098 shares of the stock were exchanged, down from an average trading volume of 1,424,840

Canaccord Genuity raised the target price of Pengrowth Energy (TSE:PGF) to $2.40 indicating a possible upside of 0.07%.

Previously on 09/28/2016, RBC Capital Markets reported about Pengrowth Energy (TSE:PGF) raised the target price from $1.25 to $1.50. At the time, this indicated a possible downside of -0.21%.

See Chart Below

Pengrowth Energy (TSE:PGF)

Pengrowth Energy has a 52 week low of $0.66 and a 52 week high of $2.70 The company’s market cap is currently $0.

In addition to Canaccord Genuity reporting its target price, a total of 12 firms have reported on the stock. The consensus target price is $1.48 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 7 firms rating the stock a hold, 5 firms rating the stock a underperform, and finally 1 firm rating the stock a sell.

About Pengrowth Energy (TSE:PGF)

Pengrowth Energy Corporation is a resource company, which is engaged in the production, development, exploration and acquisition of oil and natural gas assets. The Company owns and operates Lindbergh thermal project, which is located in the Cold Lake area of Alberta and encompasses over 42.5 sections of land. The Company is focused on the Western Canadian Sedimentary Basin. The Company's conventional oil and gas portfolio includes a contiguous land base in the Greater Olds/Garrington area, encompassing over 480 gross sections of land, with opportunities in the Cardium, Viking and Mannville sands, as well as in the Mississippian carbonate section. The Company's asset, Groundbirch/Bernadet Montney natural gas is a gas resources play in North America, located in Bernadet. It also controls light oil accumulations in the Swan Hills area of northern Alberta. It has approximately 50 gross sections of Montney land with liquids content ranging from 0-75 barrel/million cubic feet (bbl/MMcf).

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