Raymond James analyst Luke Davis initiated coverage of Gran Tierra (GTE) with a Market Perform rating and C$10 price target The company’s repositioning and entrance into Canada “provides a platform for differentiated growth across multiple plays combined with geographic diversification,” the analyst tells investors in a research note. However, given that the i3 Energy integration and balance sheet improvement will likely be the primary investor focus for the foreseeable future, Raymond James currently sees better opportunities among the company’s Canadian peers.
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