Trican Well Service (TCW.TO) was upgraded to Buy from Hold at TD Securities on Thursday.
Analyst Aaron MacNeil maintained a price target of C$7.50 on shares of the Calgary-based oil and gas services company following its Q2 results and conference call.
Trican shares declined C$0.46, or 7.2%, to C$5.89 on the Toronto Stock Exchange Wednesday.
"TCW is down YTD despite positive macro tailwinds arising from the Iran conflict and Canada's initiatives to develop new egress," MacNeil said in a note to clients. "Following a 27% pullback from recent highs, we now see an attractive entry point and are upgrading to Buy."
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