The Globe and Mail reports in its Friday, Oct. 17, edition that Scotia Capital analyst Jonathan Goldman has named Calgary-based CES Energy Solutions as his "top pick" heading into earnings season, increasing his share target to $10.25 from $9.59 with an unchanged "sector outperform" ranking. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $10.53. Mr. Goldman says in a note: "We see high probability the company wins a portion of large RFPs out with existing customers, which could support 5-per-cent to 10-per-cent upside to 2026 estimates. Update expected with Q3 results. CES has reached sufficient scale to bid on these larger jobs that infrequently come up for tender while the Proflow acquisition in 2022 brought offshore capabilities, which is a prerequisite to bid on large on land jobs. The company has been hiring in advance of securing new work with headcount up more than 6 per cent year-to-date. That is artificially depressing margins. Shares trade at an 11.9-per-cent FCF yield on our 2026." The Globe reported on July 4 that National Bank Financial had hiked CES Energy Solutions to "outperform" from "sector perform." It was then worth $6.96.