PrairieSky Royalty upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Michael Harvey upgraded PrairieSky Royalty to Outperform from Sector Perform with a price target of C$33, up from C$31. The firm cites a more constructive outlook relating to the company’s future multi-lateral drilling prospects for the upgrade. The analyst sees PrairieSky’s suite of assets “as top-tier, which should ultimately be the key long-term driver of value.”