Analyst Sam Burwell of Jefferies maintained a Buy rating on Topaz Energy Corp, with a price target of C$31.00.
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Sam Burwell has given his Buy rating due to a combination of factors including Topaz Energy Corp’s performance in the third quarter, which slightly exceeded expectations in terms of cash flow per share. The company’s infrastructure revenue surpassed estimates, while its royalty production aligned with projections, demonstrating consistent operational execution.
Additionally, Topaz Energy Corp reaffirmed its guidance for both royalty production and infrastructure revenue, indicating a stable outlook. The anticipation of the company’s 2026 guidance, typically released with the fourth quarter results, adds a forward-looking perspective to the investment. Burwell also values Topaz’s unique business model and its diversified exposure in the upstream sector, which contributes to the positive rating.
In another report released on November 3, BMO Capital also maintained a Buy rating on the stock with a C$32.00 price target.