The Globe and Mail reports in its Friday, May 16, edition that National Bank Securities analyst Dan Payne has reaffirmed his "outperform" ranking for Birchcliff Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne gave his share target a 50-cent boost to $8.50. Analysts on average target the shares at $7.65. Mr. Payne says in a note: "The company has perfectly stewarded the business through the trough and is ideally positioned to maximize shareholder value with its refined business model that offers high leverage to the commodity backdrop through the outlook. Birchcliff Energy is poised for a 15-per-cent return profile (vs. peers 19 per cent) on leverage of 0.6 times (vs. peers 0.4 times), while trading at 3.8 times 2025e EV/DACF (vs. peers 4.1 times)." The Globe reported on Jan. 24 and March 14 that Mr. Payne rated Birchcliff Energy "outperform." The shares could then be had for $6.08 and $5.73. The Globe reported on April 9 that Raymond James analyst Luke Davis was keeping his "market perform" recommendation for Birchcliff Energy intact. The shares were then going for $5.52.