The Globe and Mail reports in its Friday, March 7, edition that ATB Capital Markets analyst Tim Monachello, citing an improved valuation, has elevated his recommendation for CES Energy Solutions to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Monachello continues to target the shares at $11. Analysts on average target the shares at $11.28. Mr. Monachello says in a note: "Operationally, CES Energy continues to demonstrate top-tier execution with revenue and adjusted EBITDAS outpacing North American rig activity levels (down 2 per cent year-over-year in Q4/24), which we believe is a function of 1) market share expansion across its platform and 2) CES Energy's exposure to increasing lateral footage per well across the industry. Looking to 2025, we believe CEU is on a strong footing, with market shares in Canada and US drilling fluids approaching record levels and continued market share gains being made in production chemicals. Near-term, however, we expect moderate margin pressures in H1/25 due to a lag in Canadian segment pricing on inventories purchased in U.S. dollars in previous periods. Nevertheless, we view CES Energy as among the highest quality businesses in the sector."