BMO Capital reinstated coverage of Athabasca Oil with an Outperform rating and C$6.50 price target. Athabasca has been a “true turnaround story” and is now one the few Canadian producers returning 100% of its free cash flow to shareholders, the analyst tells investors in a research note. The firm believes the shares will continue to outperform as the company progresses with its buyback program and continues to sustainably grow volumes.
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