PrairieSky Royalty downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded PrairieSky Royalty (PREKF) to Market Perform from Outperform with a price target of C$35.50, up from C$35. Although each Canadian royalty name continues to offer attractive long-term value, the space has been downgraded in favor of more direct producer exposure in the near term, particularly following an average +18% year-to-date gain across the space, the analyst tells investors in a research note