The Globe and Mail reports in its Friday, July 14, edition that BMO Capital Markets analyst Randy Ollenberger has lowered his recommendation for ARC Resources to "market perform" from "outperform." The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Ollenberger boosted his share target by a loonie to $20. Analysts on average target the shares at $22.78. BMO expects to see generally weaker quarter-over-quarter results for the Canadian oil and gas group due to challenges presented by wildfires, heavy oil sands turnaround activity and weaker natural gas prices. Mr. Ollenberger says in a note: "ARC Resources shares have outperformed following the sanctioning of its Attachie project, and the shares have achieved our target price. We expect natural gas prices to remain relatively weak over the next 18 months, especially in Western Canada. Against this backdrop, we see limited share price upside over the next 12 months. That said, we believe ARC Resources shares remain attractively valued for those investors prepared to look beyond the near-term weakness." The Globe says BMO is cautious on the oil and gas sector in general heading into second quarter results.