CIBC Capital Markets raised its price target on Tamarack Valley Energy Ltd. (TVE.TO) to $16.50 from $15.25.
Analyst Jamie Kubik maintained an Outperformer rating on shares of the Canadian energy company.
"Per-well economics from the Clearwater have been widely recognized as excellent for years; however, the waterflood response has been quietly notable and a source of recent production outperformance," Kubik said in a note to clients.
"We believe Tamarack's push to have greater than 38% of its Clearwater volumes under waterflood by year-end 2026 could prove to be a catalyst for free cash flow in 2027E, and we expect strong execution will drive further multiple expansion in the shares," the analyst said.
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