RBC Capital analyst Greg Pardy upgraded Athabasca Oil (ATHOF) to Outperform from Sector Perform with a price target of C$6.50, up from C$6. The firm cites the recent pullback in the shares for the upgrade. The company has a “capable” leadership team, shareholder alignment, solid operating performance, strong balance sheet, and 100% payout of free cash flow to shareholders, the analyst tells investors in a research note.
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