Raymond James Initiates Coverage of Gran Tierra Energy

Gran Tierra Energy Inc. (NYSE:GTE) is one of the 12 Best Natural Gas Stocks to Buy According to Analysts.

GTE received a boost this week after Raymond James analyst Luke Davis initiated coverage of the stock with a ‘Market Perform’ rating and a price target of C$10.

Raymond James Initiates Coverage of Gran Tierra Energy

A pipeline snaking through a desert canyon, representing a energy’s transport infrastructure.

According to the analyst, the energy company’s recent repositioning and entrance into the Canadian market provides ‘a platform for differentiated growth across multiple plays combined with geographic diversification’. However, despite the bullish aspects, Davis noted that investors are currently more focused on the integration of i3 Energy and enhancements to the company’s balance sheet.

Gran Tierra Energy Inc. (NYSE:GTE) rallied earlier this month after Equinox Partners Investment Management LLC, a major shareholder, notably increased its stake in the company. Additionally, Gran Tierra also reported transactions involving the acquisition of common shares by its directors and key managerial personnel through the Employee Share Savings Plan, further increasing investor confidence in the company.

Gran Tierra Energy Inc. (NYSE:GTE) is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador.

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Disclosure: None.