Whitecap Resources Inc T.WCP

BMO hosts WCP 's CFO Thanh Kang for a "retail desk update".

[Davesnothere]

Whitecap Resources Maintained at Outperform by BMO After CFO Meeting; Price Target Kept at C$12.00

 

01 Mar 202312:03 ET

 

12:03 PM EST, 03/01/2023 (MT Newswires) -- BMO Capital Markets on Wednesday reiterated its outperform rating on the shares of Whitecap Resources (WCP.TO) and its C$12.00 price target following meetings with senior management of the Western Canadian oil and gas producer.

"BMO Capital Markets hosted Whitecap's CFO Thanh Kang for a "retail desk update". Key areas of discussion included the company's drilling inventory, capital allocation and an overview of Whitecap's assets. We expect the company will reach its $1.3 billion net debt target by Q2/23, which will pave the way for it returning 75% of its free cash flow to shareholders. Whitecap continues to trade at a discount to its North American large-cap peers, which we believe is unjustified given its extensive drilling inventory, sustainable growth trajectory, and growing shareholder returns," analyst Randy Ollenberger wrote.

(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: 10.68, Change: +0.22, Percent Change: +2.10

[Citizen13]

Outperform and a $ 1 share price appreciation over 12 months ?  LOL. I would call that a sell, not outperform if I think its gaining a dollar.