Raymond James upgraded Baytex Energy (BTE) to Outperform from Market Perform with a price target of C$7, up from C$5.50. The current environment for Canadian oil E&Ps appears “just right,” supported by oil prices above $100/bbl, a constructive WTI curve, disciplined North American supply, improving Canadian takeaway capacity, and potential energy security-driven investment interest, the analyst tells investors in a research note.
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