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RBC Lifts Trican Well Service's Price Target to C$8.50 from C$7.50

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RBC Capital Markets on Tuesday raised Trican Well Service's (TCW.TO) price target to C$8.50 from $7.50 with a sector perform rating.

Trican's first-quarter results were slightly better than expectations, including adjusted EBITDA of $70.1 million that was in between RBC's estimate of $67.9 million and the Street consensus of $72.2 million.

RBC increased its 2026 and 2027 EBITDA estimates for Trican following the company's first-quarter performance.

"We continue to see Trican as a leading Canadian service provider, with strong offerings in pressure pumping and cementing, but see stronger relative opportunity in select US pressure pumpers at present," RBC said.

Trican traded at $7.72 per share at last look Wednesday on the Toronto Stock Exchange.

Price: $7.74, Change: $+0.16, Percent Change: +2.11%

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