RE:rbc upgraded birchcliff to 5 from 4From RBC
- NVA CN --- RBC increasing target C$3 to C$3.50, remains SP rated. We increase our NuVista estimates after incorporating today's RBC global price deck revision, which increases our 2022 crude oil outlook to US$72/bbl and gas to $2.95/mmBtu. We view the current commodity environment as supportive of NVA's 4-year plan aimed at commitments and leverage optimization through 15%+ annual production growth.
- BIR CN --- RBC upgrading from SP to OP, target C$4 to C$5. We upgrade Birchcliff shares to Outperform in tandem with today's RBC global price deck revision, which increases our 2022 crude oil outlook to US$72/bbl and gas to $2.95/mmbtu. Birchcliff's FCF characteristics are amongst the most favourable in the group and operations have been solid; implied return to our $5 price target now justifies an OP rating. We remove Speculative Risk qualifier on materially improved liquidity profile, decreasing leverage and robust FCF generation.
- CPG CN --- RBC upgrading from SP to OP, target C$6.50 to C$7.50. We upgrade CPG shares to Outperform in tandem with today's RBC price deck revision, with our strategists increasing our Q3/21 crude oil outlook to US$75/bbl and pointing to average pricing of ~$72/bbl through 2022. Combined with a very high (27%) FCF yield and a very low (2.0x EV/DACF) valuation at our updated deck plus improving operations, we see favourable risk/reward to CPG shares.
uograd wrote: rbc don't cover crew anymore but raised birchcliff and moved their price deck to 2.95 per mmbtu for 2022. bumped oil as well
so using all of my long division skills if birchcliff get a 25% bump and their price deck improves you would think that crew would see similiar bumps in its price.
2 bucks is certainly on the table.