The Globe and Mail reports in its Wednesday, April 9, edition that Raymond James analyst Luke Davis has reaffirmed his "outperform" ranking and $22 share target for Peyto Exploration & Development. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $18.90. Mr. Davis says in a note: "Peyto has long been among the most efficient and lowest cost natural gas producers in Canada with a strong foothold in the Deep basin. While not historically a consolidator, the 2023 acquisition of Repsol Canada's complementary asset suite provided a solid platform for organic growth and optimization on a base that was well undercapitalized. Despite higher leverage metrics relative to peers, we see a clear path to debt repayment, supported by a strong hedge book and top-quartile FCF profile, with plenty of development upside given idle processing capacity available within the company's owned network of gas processing facilities." The Globe reported on Nov. 15 that Desjardins had maintained Peyto at "hold" when it was worth $15.51. The Globe reported on Jan. 21 that RBC analyst Michael Harvey rated Peyto "sector perform." The shares could then be had for $16.64.