The Globe and Mail reports in its Friday, July 11, edition that Scotiabank analyst Kevin Fisk has lowered his recommendation for Athabasca Oil to "sector perform" from "sector outperform" following an update to the bank's commodity price forecast along with company estimates. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Fisk told clients that the downgrade was "due to our weak oil price outlook and the company's strong share price performance." Mr. Fisk continues to target the shares at $6.50. Mr. Fisk says in a note: "In our view, this implied return is more in line with a 'sector perform' rating. Additionally, our commodity price forecast is calling for weak oil prices for the next few quarters which is a headwind for the stock given its high torque to oil prices. As a result, we will look for a better entry point on the name (either on share price performance, improved commodity outlook, or a catalyst to boost our valuation)." The Globe reported on Oct. 16 that Mr. Fisk rated Athabasca Oil "sector outperform" in new coverage. The shares could then be had for $5.05. The Globe reported on Nov. 1 that RBC was keeping Athabasca at "sector perform." The shares were then also going for $5.05.