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PrairieSky Royalty Price Target Raised to C$38 at RBC

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RBC Capital Markets raised its price target on PrairieSky Royalty (PSK.TO) to C$38 from C$36.

Analyst Michael Harvey maintained an Outperform rating on shares of the Calgary-based oil and gas royalty company following its Q2 results.

"PSK continues to highlight the pace growth within its key assets in the Clearwater, Duvernay, and Mannville," Harvey said in a note to clients.

"Although the company is highly diversified, its exposure to the lowest supply cost plays has delivered oil growth rates well beyond the basin average," the analyst said. "In our view this dynamic is likely to continue."

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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