The Globe and Mail reports in its Friday, Jan. 16, edition that RBC analyst Keith Mackey believes that North American oil and gas services providers may struggle to meet the recent positive sentiment in their fourth quarter results and forecasts. The Globe's David Leeder writes that Mr. MacKey, however, still views their earnings trajectories as stable and finds their valuations to be mostly attractive. Mr. MacKey says in a note: "Stocks in our coverage have rallied 12.6 per cent on average to start the year. The sharp rally will put pressure on firms to give positive updates, and we wouldn't be surprised if fundamental outlooks provided on Q4 calls do not live up to current sentiment. However, sector valuations, earnings trajectory and recent earnings revisions help put the rally into perspective. Valuation multiples are one times below long-term averages while earnings are near long-term averages, with a slight bias higher from 2025-2027. The risk of negative earnings revisions also appears lower after the downward moves in mid-2025." Mr. MacKey continues to rate Ensign Energy Services "sector perform." Mr. MacKey gave his share target a 50-cent boost to $3.50. Analysts on average target the shares at $3.