The Globe and Mail reports in its Wednesday edition that TD Cowen analyst Aaron Bilkoski is keeping his "buy" call and $9.50 share target for Kelt Exploration intact. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $9.87. On Monday, Kelt announced its 2026 financial and operating guidance, setting a capital expenditure budget of $355-million. It is targeting annual production of 50-52,000 barrels of oil equivalent per day, a 26-per-cent increase over its 2025 forecast. Mr. Bilkoski says in a note: "The budget was in line with both TD Cowen/Street expectations. ... Through 2025, Kelt struggled to get its behind-pipe production to market as third-party infrastructure delays acted as a material bottleneck. These challenges appear to be behind them. Looking forward, we anticipate near industry-leading oil-biased growth through 2026. Furthermore, the combination of production stability at greater Wembley could, in our view, see this asset monetized at a valuation notably higher than where Kelt currently trades. Furthermore, this would leave Kelt with a largely undeveloped B.C. natural gas property that could become strategically important as LNG-driven demand grows."