Tourmaline Oil initiated with a Buy at Canaccord

Canaccord analyst Mike Mueller initiated coverage of Tourmaline Oil with a Buy rating and C$75 price target. The stock offers investors “the best of both worlds” given the company’s “strong track record” of distributing excess free cash flow to shareholders via special dividends and its self-funded organic growth of about a 6% compound annual growth rate through 2028, the analyst argues.