The Globe and Mail reports in its Friday, Nov. 3, edition that Scotia Capital analyst Cameron Bean has reaffirmed his "sector outperform" recommendation for ARC Resources. The Globe's David Leeder writes that Mr. Bean gave his share target a $2 boost to $32. Analysts on average target the shares at $25.73. Mr. Bean says in a note: "ARC Resources delivered solid Q3/23 results, with production and adjusted funds flow (AFF) in line and free cash flow (FCF) ahead of expectations on lower-than-expected capex. The company reiterated its full year 2023 guidance and released better-than-expected 2024 guidance, with capex 10 per cent below the previous indication and the balance of metrics essentially in line. The Attachie project remains on track and on budget, with first volumes expected in late 2024 or early 2025. ARC Resources' preliminary expectations for 2025 line up with expectations and point to a materially undervalued large-cap energy story." The Globe reported on Sept. 19 that Desjardins rated ARC "buy." It was then worth $21.46. The Globe reported on Oct. 13 that National Bank Financial analysts Travis Wood and Dan Payne had kept ARC Resources at "outperform." The shares could then be had for $21.81.