Greenfire Resources downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Tariq Saad downgraded Greenfire Resources (GFR) to Market Perform from Outperform with an unchanged price target of C$8. The firm expects the company to “materially outspend” its cash flow in 2026, driving leverage higher. It believes the shares are due for a “breather.”