The Globe and Mail reports in its Wednesday, Oct. 9, edition that TD Cowen analyst Aaron MacNeil has reaffirmed his "buy" recommendation for Pason Systems. The Globe's David Leeder writes that Mr. MacNeil trimmed his share target by $2 to $18. Analysts on average target the shares at $19.80. Mr. MacNeil believes Canada's energy services sector "lacks positive momentum" after reducing his activity forecasts for the third quarter. Mr. MacNeil says in a note: "We do not believe that the recent geopolitical risk premium embedded in crude will translate to an increase in drilling. ... We are reducing our estimates, alongside a reduction to our activity forecasts. We are modeling flat IWS revenues and limited near-term growth." The Globe reported on Nov. 7 and Dec. 8 that RBC Capital analyst Keith Mackey had reiterated his "outperform" recommendation for Pason Systems. Mr. Mackey noted in the Nov. 7 item that Pason was on RBC's Canadian Small Cap Conviction list. In the item he said, "We continue to view Pason as an attractive way to gain exposure to E&P drilling capex spend." The shares could then be had for $13.66 and $15.06. The Globe reported on March 1 that BMO rated Pason "outperform." It was then worth $13.84.