Jefferies analyst Lloyd Byrne maintained a Buy rating on Topaz Energy Corp yesterday and set a price target of C$30.00.
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Lloyd Byrne has given his Buy rating due to a combination of factors, including Topaz Energy’s consistent outperformance versus expectations and its solid balance sheet. The company modestly exceeded forecasts on cash flow per share, royalty production, infrastructure revenue, and free cash flow, while keeping its dividend payout at the low end of its targeted range and leverage comfortably below its ceiling.
In addition, Byrne highlights that 2026 guidance aligns with market and internal estimates, yet the longer-term outlook through 2030 points to a robust 20–30% EBITDA expansion from the 2026 base. He also emphasizes that Topaz’s royalty exposure in the NE British Columbia Montney and Clearwater plays should support continued growth and free cash flow generation after dividends, even if commodity prices are not particularly strong.
Byrne covers the Energy sector, focusing on stocks such as Schlumberger, Halliburton, and Baker Hughes Company. According to TipRanks, Byrne has an average return of 19.9% and a 61.06% success rate on recommended stocks.