In a report released yesterday, Sam Burwell from Jefferies maintained a Buy rating on Paramount Resources, with a price target of C$28.00.
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Sam Burwell’s rating is based on several key factors that highlight Paramount Resources’ potential for growth and strong performance. The company posted impressive third-quarter results, with particularly robust production volumes in September, driven by the Alhambra plant’s efficiency. A significant development was the approval of the Sinclair Montney project, which is expected to increase capital expenditures in 2026 and 2027 as the company aims to surpass 100 mboe/d by the end of 2027.
Despite some market concerns regarding dry gas growth, Paramount Resources has demonstrated effective execution strategies, particularly in the Duvernay region with the Alhambra plant. This strong operational performance and strategic project approvals underpin Burwell’s confidence in the company’s future prospects, justifying the Buy rating.