Athabasca Oil downgraded at BMO on premium valuation risk
BMO analyst Tariq Saad downgraded Athabasca Oil’s rating to market perform from market outperform, citing that the shares are within the 10% threshold of the target.
Athabasca Oil's shares have had a strong run this year, but BMO's Tariq Saad said the premium valuation could limit further upside and cut the stock to market perform from market outperform. The analyst said the shares are now within the 10% threshold of the target.