The Globe and Mail reports in its Friday, Sept. 18, edition that ATB Cormark Capital Markets analyst Kalvin Baim has reaffirmed his "outperform" recommendation for Valeura Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Baim boosted his share target by a loonie to $19.50. Analysts on average target the shares at $17.46. Mr. Baim says in a note: "On Sept. 15, before market open, Valeura announced the Suraphi oil discovery near its Manora field and the completion of a development and appraisal campaign at Jasmine. Overall, we view the release as positive. Management believes the oil demonstrated at Suraphi supports a satellite facility and is moving directly into development planning. The discovery could shift Valeura's shortest-life asset from managed decline into a multi-pool development project by extending the life of Manora's existing facilities and improving the development potential of the nearby Malida discovery. Coming one day after cabinet approval of the PTTEP farm-in, we believe the release is another step that shifts the story toward an organic inventory that is materially deeper than the market credits."