Bonterra Energy upgraded to Buy from Hold at Stifel

Stifel analyst Cody Kwong upgraded Bonterra Energy to Buy from Hold with a price target of C$9.25, up from C$8.25, after the company reported its 2022 year-end reserve results and an operational update. While the update "didn’t harbor anything too notable" in isolation, the firm is shifting to a more positive outlook on Bonterra given that the company has now cut its debt in half over the past two years and has the flexibility to now consider strategic acquisitions or "get back to its roots of being a meaningful returner of capital."