BMO Capital reinstated coverage of Obsidian Energy with an Outperform rating and C$16.50 price target. Obsidian is among the companies that has undergone significant change over the past few years, and between restarting its Bluesky/Clearwater operations and shifting from a debt repayment strategy to one of higher growth, there is now more clarity for investor understanding, the analyst tells investors in a research note. The company’s valuation will benefit as its economics, margins, and leverage all improve, the firm added.
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