The Globe and Mail reports in its Tuesday, March 10, edition that RBC Capital Markets analyst Michael Harvey is keeping his "sector perform" recommendation for Headwater Exploration intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Harvey gave his share target a $2 boost to $13. Analysts on average target the shares at $11.33. Mr. Harvey says in a note: "Headwater released largely pre-announced results that fell in line with expectations; operational results remain robust with test well rates continuing to impress and Headwater positioned to maintain 10-12 per cent year-over-year production growth. We shift our share target to $13 on higher estimates and target multiple expansion as exploration results continue to exceed expectations." The Globe reported on May 6 and Dec. 5 that Desjardins Securities analyst Chris MacCulloch was keeping his "hold" call on Headwater Exploration intact. The shares were then going for $5.79 and $9.49. The Globe reported on Jan. 20 that Mr. Harvey continued to rate Headwater Exploration "sector perform." The shares could then be had for $10.48.