The Globe and Mail reports in its Wednesday, April 24, edition that Stifel analyst Cody Kwong lowered his recommendation for Petrus Resources to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwong gave his share target a 25-cent trim to $1.50, matching the consensus. Mr. Kwong says in a note: "We are reducing our target price to $1.50 per share with a cash flow stream that is impacted by the recent softness in natural gas prices. We have modestly reduced our capital forecast to the mid-range of company guidance with average annual 2024 production volumes falling 2 per cent from our prior view. As we anticipate weakness in gas prices to persist through the summer, the company's leverage position will appear higher than average, particularly when paired with a newly implemented dividend policy. With lower-than-average implied target price returns versus its peers, we are moving to a HOLD recommendation." The Globe reported on Feb. 1, 2022, that Mr. Kwong had boosted his recommendation for Petrus Resources to "buy" from "speculative buy," with a $2.15 share target, up from $1.50. The Petrus Resources shares could then be had for $1.58.