The Globe and Mail reports in its Thursday, Feb. 22, edition that RBC Capital analyst Luke Davis continues to rate Gran Tierra Energy "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Davis boosted his share target to $9 from $8. Analysts on average target the shares at $15.19.
Mr. Davis says in a note: "Gran Tierra's Q4/23 results were largely prereleased with cash flow slightly below expectations. Production volumes are trending favourably to date in 2024, which management expects to continue into the second quarter as new wells are brought on-line. The company will be hosting an investor day in Colombia mid-March, which we view as the next potential catalyst for the stock." The Globe reported on Aug. 3 that Mr. Davis had reaffirmed his "sector perform" recommendation for Gran Tierra Energy when it could be had for $8.82.
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