Raymond James analyst Jeremy McCrea downgraded Tamarack Valley Energy to Outperform from Strong Buy with a price target of C$6.00, down from C$6.50. Tamarack Valley Energy offers investors a long runway of top-decile inventory, but at a more modest growth rate than what the firm had previously anticipated, the analyst says in a research note. He expects to see further shareholder-friendly items appearing as the company restated prior debt target goals, but these goals may take longer to achieve due to the volatility in commodity prices.
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