The Globe and Mail reports in its Tuesday, May 9, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for ARC Resources. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch boosted his share target by a loonie to $27. Analysts on average target the shares at $22.72. Mr. MacCulloch says in a note: "We are increasing our target on ARC, reflecting positive revisions to estimates following its solid 1Q23 financial results. Although we were already modelling Attachie Phase I, the project is expected to come on-line two quarters ahead of our forecast and with $100-million less capex when factoring in the $65-million of capital for future development phases, which further enhances economic returns. Meanwhile, investors get paid to wait through an enhanced dividend and more aggressive buybacks." The Globe reported on Jan. 25 and April 18 that Mr. MacCulloch had reaffirmed his "buy" for ARC Resources, which was then worth $16.66 and $16.59. The Globe reported on April 21 that Paradigm Capital analyst Adam Gill was sticking with his "buy" recommendation ARC Resources. The shares could then be had for $16.34.