Canaccord Genuity Maintains a 'Buy' on Talisman Energy (TLM); Another Day, Another Stock Underperforms Post Earnings

Canaccord Genuity maintains a 'Buy' on Talisman Energy (NYSE: TLM), PT C$27.50.

Canaccord analyst says, "We believe there is one key takeaway from TLM’s Q1 release yesterday: TLM, like others (outside of Nexen (NYSE: NXY)), seems to have fallen victim to a market that is eager to sell when there is anything less than earnings release perfection (this is possibly a risk for CNQ when it reports tonight). SU’s Q1 results earlier this week were decent and despite a positive April oil sands number, its share price declined on average 3% more than its peers. For TLM, news of a delay on Yme along with a messy EPS and CFPS headline, understated by inventory delays, added even more fuel to the fire and resulted in the stock falling roughly 6%, or 5% on average more than peers yesterday. Given this, we recommend taking advantage of any further underperformance in TLM’s share price."

For more ratings news on Talisman Energy click here and for the rating history of Talisman Energy click here.

Shares of Talisman Energy closed at $22.00 yesterday.

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