TSX:WCP - Post Discussion
Post by
retiredcf on Feb 23, 2024 7:46am
Desjardins
Desjardins Securities’ Chris MacCulloch raised his Whitecap Resources Inc. target to $11.50 from $11 with a “buy” rating. The average is $12.75.
“We increased our target on Whitecap ... reflecting positive estimate revisions following the release of 4Q23 financial results,” he said. “We also adjusted our 2024 capex assumption to $1.0-billion (from $1.1-billion) to align with the mid-point of the capital budget ($0.9–1.1-billion) given our view that Montney/Duvernay development will temporarily moderate in response to sluggish natural gas prices. However, we have retained our production forecast at the mid-point of the guidance range for the time being.”
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