The Globe and Mail reports in its Wednesday, May 21, edition that RBC analyst Walter Spracklin has elevated his recommendation for Westshore Terminals Investment to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Spracklin gave his share target a $7 boost to $30. Analysts on average target the shares at $30. Mr. Spracklin issued his ratings upgrade in response to last week's "unexpected" announcement of the approval of the Grassy Mountain coal project by the Alberta Energy Regulator. While he cautions the decision restarts the approval process but "does not guarantee the project ultimately goes through," Mr. Spracklin does "not see this upside as priced into shares at current levels." Mr. Spracklin says in a note: "Even if the project does not go through, strong underlying FCF (8-per-cent yield) and no debt protect investors to the downside. ... The Alberta Energy Regulator last week approved the Grassy Mountain Coal project, which we see as a meaningful positive for Westshore. However, this does not guarantee the project will move forward. The project was initially denied in 2021 due to environmental concerns and at the time the project had contracted from Westshore 4.5Mt of capacity."