The Globe and Mail reports in its Friday, July 21, edition that Canaccord Genuity analyst Mike Mueller commenced coverage on Baytex Energy with a "buy" recommendation and a $6 share target. The Globe's David Leeder writes that analysts on average target the shares at $7.15. Mr. Mueller says in a note: "While the company's leverage (D/CF, TTM) of 1.8 times (2023) and 1.2 times (2024) exceeds its peer group averages of 1.2 times and 0.8 times, respectively, we believe the company's torque to oil prices offers upside while having comfort in the fact that over 65 per cent of its debt is termed out to 2027/2030. Although its recent $2.9-billion acquisition of Ranger Oil diluted its overall asset base, it did increase its operated acreage in the Eagle Ford from 0 per cent to 70 per cent, which should increase its flexibility to deploy capital across its asset base and respond to prevailing commodity prices, in our view." The Globe reported on April 12 that RBC had boosted Baytex Energy to "outperform" from "sector perform." It was then worth $5.43. The Globe reported on June 22 that BMO Capital Markets analyst Michael Murphy had reaffirmed his "market perform" ranking for Baytex Energy. It was then worth $3.99.