The Globe and Mail reports in its Wednesday edition that Canaccord analyst Anthony Petrucci maintained his "outperformer" call and $7.50 share target on Whitecap Resources. The Globe's Gillian Livingston writes that analysts on average target the shares at $7.88. After Whitecap Resources announced a cut to its capital expenditure program, Mr. Petrucci reduced his cash flow projections for the oil and gas company. He says in a note: "The company has decided to take a cautious approach for the remainder of the year and is reducing its back-half spending to $250-million (from $300-million) with full-year spending to come in at $400-million (from $450-million). Production guidance of 70,000-72,000 boe/d [barrels of oil equivalent per day] remains unchanged. The company's 2019 program was designed with a flexible H2/19 in mind, given the volatility of the market. The company's objective was to protect the balance sheet, maintain a sustainable dividend and generate a moderate growth rate. Its cautious approach to spending for the remainder of the year is a prudent move, in our view. Volatility in oil pricing along with lack of egress has weighed heavily on oil stocks in the space, and WCP is no exception."