Inside the Market’s roundup of some of today’s key analyst actions
) is “a logical and synergistic transaction” shareholders, seeing it “folding its strategic assets into a larger enterprise, and through which it should gain greater participation in the value growth of each.”
He emphasized the deal, announced before the bell on Monday, expands Tourmaline’s “dominance” in the Montney region, calling it the Basin’s largest player “with a dominant footprint in NEBC.
Mr. Payne moved his target for Crew Energy shares to $6.75 to reflect the deal price from $5. The average target on the Street is $7.02.* Desjardins Securities’ Chris MacCulloch to “tender” from “hold” with a $7 target, rising from $5.50. “MRU on track to meet its FY24 EPS guidance of flat to down 10 cents,” he added in a research note previewing Wednesday’s release.
While he trimmed his full-year earnings and revenue expectations, Mr. Li raised his target to Metro shares to $80 from $75 after updating his valuation. The average is $80.88. On Aug. 9, the Vancouver-based company reported second-quarter results that displayed “strong” gross margins and “good” expense control, however Southern Yellow Pine pricing pressures weighed. Earnings per share of 20 cents fell 8 cents below Mr. Evershed’s projection and 2 cents under the consensus forecast on the Street.
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