Crescent Point Energy price target raised to C$16 from C$12 at Scotiabank

Scotiabank raised the firm’s price target on Crescent Point Energy to C$16 from C$12 and keeps an Outperform rating on the shares. The firm has revised its commodity price forecast as well as its company estimates and target prices, the analyst tells investors. Years of underinvestment and sustained capital discipline have laid the groundwork for a structurally positive view of Canadian commodity prices, the firm adds.