The Globe and Mail reports in its Saturday, Jan. 20, edition that Industrial Alliance Securities analyst Michael Charlton says Chinook Energy's "volatile" production profile adds uncertainty going forward. The Globe's David Leeder writes in the Eye On Equities column that Mr. Charlton, following an operational update that failed to meet his expectations, downgraded Chinook to "hold" from "buy." He cut his share target to 20 cents from 50 cents. Analysts on average target the shares at 31 cents. Mr. Charlton says in a note: "Weather and pipeline outages dealt a blow to production as the company was forced to make the majority of its production offline. The good news here is that with the on-time commissioning of the Birley compressor, Chinook will finally have the capacity to produce all of its wells when they come on-line. Due to uncertainty of production and volatility of Station 2 pricing, Chinook is postponing the finalizations of its 2018 capital program at this time. ... Trading at a discount to our estimated NAV, we believe Chinook holds multiple potential opportunities for future development. Furthermore, we believe the company is open for any M&A opportunities that may increase shareholder value."