The Globe and Mail reports in its Friday, Oct. 10, edition that according to RBC Dominion Securities analyst Keith Mackey, the North American oil and gas services market is characterized by a "pick your spots" approach as it enters earnings season. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mackey says in a note: "Covered stocks are down 5 per cent year-to-date, but increased 16 per cent over the quarter. Stock performance has varied and those with strongest performance generally have exposure to 1) Natural gas production growth, 2) Power generation demand, 3) Market-specific strength in E&P spending. Mr. Mackey made minimal adjustments to his North America rig count forecasts, expecting steady activity through 2026 and into 2027. Internationally, he slightly increased expectations for Middle East and Latin America activity, reflecting a small uptick heading into the year end. Mr. Mackey has reaffirmed his "outperform" recommendation for CES Energy Solutions. Mr. Mackey boosted his share target by a loonie to $11. Analysts on average target CES Energy shares at $10. Mr. Mackey, in his global coverage, says CES is on his "preferred list."
© 2025 Canjex Publishing Ltd. All rights reserved.