BMO Capital upgraded Baytex Energy (BTE) to Outperform from Market Perform with a price target of C$6, up from C$3. The company’s U.S. Eagle Ford exit marks a pivotal moment for Baytex as it has returned to its roots as a focused Canadian producer, anchored by top-tier heavy oil and Duvernay assets, the analyst tells investors in a research note. This streamlined portfolio positions the company for disciplined growth, enhanced shareholder value, and a strong balance sheet, BMO added.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BTE: