The Globe and Mail reports in its Tuesday, Oct. 17, edition that Stifel analyst Michael Dunn has lowered his recommendation for ARC Resources to "hold" from "buy." The Globe's David Leeder writes that Mr. Dunn continues to target the shares at $23. Analysts on average target the shares at $24.53. Pointing to "a surging crude oil price environment and an attractive natural gas price futures outlook," The Globe says Mr. Dunn thinks the landscape for Canadian energy exploration and production should "continue to screen as attractive versus other sectors given the production/cash flow growth, unfettered balance sheets, exciting new play extensions/technical applications and elevated return of capital to shareholders." Mr. Dunn, however, says he sees "diminished" return potential at ARC Resources after a period of outperformance. The Globe reported on June 17, 2022, and Oct. 13, 2023, that National Bank Financial analysts Travis Wood and Dan Payne rated Arc Resources "outperform." The shares were then worth $17.24 and $21.81. The Globe reported on Sept. 19, 2023, that Securities analyst Chris MacCulloch rated ARC "buy." Mr. MacCulloch said he was becoming "more cautious" on the energy sector. ARC was then worth $21.46.