The Globe and Mail reports in its Friday, Nov. 15, edition that Desjardins Securities analyst Chris MacCulloch is sticking with his "hold" call on Peyto Exploration & Development. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch gave his share target a 25-cent boost to $16.50. Analysts on average target the shares at $17.93. Mr. MacCulloch says in a note: "We have increased our target on Peyto reflecting positive revisions to estimates following the release of 2025 guidance. We were particularly impressed by recent improvements in cost structures and robust production growth in the face of depressed natural gas prices. However, we remain cautious on the company's ability to fully participate in an eventual natural gas price recovery while noting that the elevated dividend payout handcuffs its ability to reduce debt levels." The Globe reported on Sept. 27 that National Bank Financial analysts Travis Wood and Dan Payne had rated Peyto Exploration "outperform." It was then worth $15.06. The Globe reported on Oct. 23 that Desjardins Securities analyst Chris MacCulloch had reaffirmed his "hold" recommendation for Peyto Exploration. The shares could then be had for $15.29.