Tourmaline Oil price target raised to C$80 from C$77 at Morgan Stanley

Morgan Stanley analyst Devin McDermott raised the firm’s price target on Tourmaline Oil (TRMLF) to C$80 from C$77 and keeps an Equal Weight rating on the shares. Despite generally cautious investor sentiment on oil markets, the energy sector has had a strong start to 2025, rising 8% year-to-date and outperforming the S&P by about 10%, notes the analyst, who updated models in the group for year-end reserves, the latest commodity prices and 2025 guidance. Following the updates, the firm’s median gas E&P price target rises 9%, while oil E&P targets fall 11%, the analyst noted.