Raymond James downgraded Whitecap Resources (WCPRF) to Outperform from Strong Buy with a price target of C$16, up from C$15. Whitecap posted a solid exit to a transformative year, as management’s common-sense approach to development drives costs lower while productivity nudges higher, which should provide plenty of operational momentum to carry the company through another year of solid execution, the analyst tells investors in a research note.
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