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01:42 PM EDT, 07/19/2022 (MT Newswires) -- BMO Capital has reiterated its Outperform rating and raised its one year target on PrairieSky Royalty to $25 (from $23).
The beat on production was meaningful and primarily driven by elevated activity levels and a strong contribution from Q1 drilling, analyst Mike Murphy notes.
Murphy continues to see debt reduction as the priority for free cash flow, although he expect the company to be active on the buyback front with a potential dividend increase within the next ~6 months.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 18.97, Change: +1.47, Percent Change: +8.40
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