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Athabasca Oil initiated with an Outperform at Scotiabank

Scotiabank analyst Kevin Fisk initiated coverage of Athabasca Oil with an Outperform rating and C$6.50 price target The firm says the company’s “capital-efficient” growth that maximizes the value of its “substantial reserves.” The analyst predicts strong free cash flow growth due to Athabasca’s growth plans and the allocation of all free cash flow toward buybacks.

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