The Globe and Mail reports in its Wednesday, Oct. 11, edition that RBC Dominion Securities analyst Greg Pardy has boosted his recommendation for MEG Energy to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Pardy raised his share target by $4 to $31. Analysts on average target the shares at $27.77. The Globe says Mr. Pardy expects third quarter financial results from Canadian energy producers to display "much stronger financial performance amid robust upstream-down stream commodity price tailwinds along with an ongoing commitment to capital discipline, net debt reduction and shareholder return." Mr. Pardy says in a note: "Our third quarter outlook for MEG incorporates bitumen production of 102,000 barrels per day, up 19 per cent sequentially following planned turnaround activities at Christina Lake completed in the second quarter. We peg MEG's third quarter bitumen realization at $98/bbl, with all-in operating costs at $8.28/bbl (excluding estimated power sales of $38-million) and royalty rate of 26 per cent (on net revenue). ... Our 2024 outlook for MEG factors in production of 105,000 bbl/d amid a $525-million capital spending program."