From the G&M upgrades/downgrades..Despite a recent decline in commodity prices, Canaccord Genuity analyst Mike Mueller continues to see intriguing investment possibilities in the Canadian exploration and production sector heading into 2023.
AboutBIR Mr. Mueller resumed coverage of these stocks:
* Birchcliff Energy Ltd. (
) with a “buy” rating and $14.75 target. The average is $14.35.
“With a significantly improved balance sheet and visibility to grow to 90,000 boe/d to maximize efficiencies through its 100-per-cent owned and operated Pouce Coupe gas plant, we believe Birchcliff is well positioned to capitalize on a strong outlook for natural gas, particularly given its exposure to NYMEX natural gas prices, which have seen relative strength given a stronger correlation to global gas prices (resulting from US LNG exports),” he said.
Very positive and a potential
greather production from 82 000 BOE actually in the Q4 .
Not to forget Nat Gas is a highly volatile commodity