The Globe and Mail reports in its Friday, Nov. 7, edition that RBC Capital Markets analyst Michael Harvey is maintaining his "outperform" recommendation for Tourmaline Oil. The Globe's David Leeder writes in the Eye On Equities column that Mr. Harvey gave his share target a $3 trim to $72. Analysts on average target the shares at $73.08. Mr. Harvey says in a note: "Tourmaline's Q3/25 volumes were in-line and drove CFPS of $1.85 (slightly below street on mix/realizations); a special dividend was declared at [25 cents per share.] The company reiterated its long term constructive outlook on gas, while noting a number of levers it could pull with near-term weak pricing in mind. At strip pricing our updated estimates point to quarterly specials of [25 cents per share] in 2026, which could also be impacted by a potential sale of PRH assets (sale process ongoing)." The Globe reported on Oct. 1 that TD Securities analysts led by Aaron Bilkoski had downgraded Tourmaline Oil to "hold" from "buy," citing its higher valuation at a time of broad commodity price weakness. The shares could then be had for $61.29.
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