The Globe and Mail reports in its Thursday, Jan. 11, edition that Raymond James's Jeremy McCrea, in the wake of the release of an operational update on Tuesday, raised his Obsidian Energy share target to $15.50 from $15 with an "outperform" ranking. The Globe's David Leeder writes that analysts on average target the shares at $13.81. Mr. McCrea says in a note: "A lot has happened with Obsidian over the past few years. Between restarting its Bluesky/Clearwater operations, and shifting from a debt repayment strategy to one of higher growth, we believe there's increasingly a lot to like about Obsidian Energy -- especially in the context of increasingly more profitable inventory duration. Unfortunately, Obsidian remains off the radar for most investors, given its prior corporate history throughout the last decade and relative market-cap size today. That said, as well economics, margins, and leverage all improve, and the company takes a position as one of the fastest growing oil names in the basin (15 per cent plus), we suspect the company's valuation will benefit as well, especially as new follow-up wells in the Bluesky Walrus field come on-line. Overall, Obsidian is still in the 'prove-it' phase."