Desjardins downgraded Whitecap Resources (SPGYF) to Hold from Buy with a C$10 price target The firm says softer oil prices and a stronger Canadian dollar are driving its bearish outlook on Canadian oil and gas companies. It believes Whitecap’s dividend needs to be “rightsized” as it “now appears increasingly stretched” with a 2026 capex-adjusted payout ratio of 110% based on current strip prices.
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