The Globe and Mail reports in its Tuesday, April 22, edition that National Bank Financial analyst Dan Payne has reaffirmed his "sector perform" call on CES Energy Solutions. The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne cut his share target back by a loonie to $10.50. Analysts on average target the shares at $10.59. While acknowledging the macroeconomic pressures brought on by the U.S. government's trade policy have made it "an uncertain time" for oil-field services providers, Mr. Payne thinks "patience should be rewarded" for investors with a longer-term perspective. Mr. Payne says in a note: "Arguably the most-favoured OFS names in the sector, positively capitalizing on the 'intensity thematic,' with compounding value through tangible multiple expansion (per recent industry M&A), albeit with the relative value recently expanding as a function of a recently lagging share price and multiple (currently trading at 4.2 times 2025e EV/EBITDA vs. peers 7.3 times)." The Globe reported on July 30 that Mr. Payne was keeping his "sector perform" recommendation for CES Energy Solutions intact. The shares could then be had for $8.06.
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