The Globe and Mail reports in its Friday, Jan. 26, edition that National Bank Financial analyst John Shao thinks Computer Modelling Group has "meaningful" upside. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shao commenced coverage of the Calgary-based company with an "outperform" recommendation and $12.50 share target, seeing potential gains from both its existing business and acquisition opportunities. Analysts on average target the shares at $11.09. Mr. Shao says in a note: "First started as a research institute, Computer Modelling has a rich history in applying advanced physics, mathematical modelling, geoscience and engineering techniques to develop its core simulation offering that is now considered the gold standard in Enhanced Oil Recovery (EOR), unconventional (e.g., shale and heavy oil) and Energy Transition. Computer Modelling's reservoir simulation is a fully transferrable technology that can be applied to CCS (carbon capture and storage) projects directly, and the company has already established its leadership in this market. With favourable government policies supporting the sector's energy transition, this theme is expected to be a major organic growth driver."