The Globe and Mail reports in its Friday, Aug. 11, edition that Raymond James analyst Daryl Swetlishoff has elevated his recommendation for Conifex Timber to "outperform" from "market perform," citing the stock's inexpensive valuation and an expectation that earnings will improve in the second half of this year. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Swetlishoff is sticking with his $1.80 share target. Analysts on average target the shares at $1.65. Mr. Swetlishoff says in a note: "While WSPF [Western spruce-pine-fir] benchmark prices remain well below estimated B.C. interior cash costs, we note stumpage downward revisions, improved q/q commodity pricing, and the power plant returning to trend EBITDA bodes well for Conifex's 2H23. What's more, we reiterate Conifex's fiber quality is poised to improve on significantly increased green timber harvesting with timber apportionments anticipated in 4Q23 -- driving cost efficiencies while boosting sales realizations. ... The company trades well below intrinsic equity value. ... We regard Conifex's financial position as solid highlighting that excluding the power loan, net debt to total cap sat at just 9 per cent at the end of 2Q23."