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Research Alert: CFRA Upgrades View To Buy From Hold On Shares Of Whitecap Resources Inc.

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by CAD3 to CAD18, using 6.0x our 2027 EBITDA. We increased the multiple from 4.5x due to WCP's newfound scale, netback improvements, increased demand for Montney producers, and general sentiment toward producers in this geopolitical climate. We also lift our 2026 EPS to CAD1.24 from CAD1.00 and cut 2027 to CAD1.00 from CAD1.12. While the Iranian war and crude pricing are driving headlines, WCP is executing flawlessly operationally. The obvious benefits of crude pricing remaining elevated will continue to benefit WCP through funds flow generation and increased de-levering and buybacks. Management raised full-year 2026 production guidance by 7,500 boe/d to 378,000-382,000 boe/d while maintaining the capital budget of CAD2.0B-CAD2.1B, which could create a +CAD2.0B FCF windfall in FY 26. Shares are at all time highs. However, we think valuation remains fair and believe WCP to be the best operating mid-cap in our coverage with the space seeing increased exposure post-ARX.

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Research Alert: Team: Results And Guidance Surpass Expectations As Cloud Growth Accelerates

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TEAM delivered a strong Q3 beat with non-GAAP EPS of $1.75 exceeding consensus by $0.41, while total revenue of $1.787B grew 32% Y/Y, surpassing expectations by $90M. Cloud revenues of $1.132B accelerated to 29% growth from 26% in Q2, while Data Center sales of $560.7M surged 44% Y/Y, reaccelerating from Q2's 20% growth. RPO growth accelerated again, up 37% Y/Y reaching $3.996B, demonstrating strengthening demand and larger customer commitments driven by its AI-powered System of Work strategy. Despite restructuring charges of $223.8M, non-GAAP operating margin expanded 800 bps Y/Y to 34%, while free cash flow of $561.3M represented a 31% margin, up from Q2's 11%. Management raised FY 26 revenue growth guidance to 24% from 22%, with operating margin guidance improving to 29% from 25.5%. We view the balanced growth across Cloud migration and Data Center expansion as positive, demonstrating TEAM's ability to optimize customer transitions while maintaining strong operational leverage.

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