The Globe and Mail reports in its Tuesday, March 12, edition that BMO Capital analyst Randy Ollenberger has reaffirmed his "market perform" recommendation for Peyto Exploration & Development. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Ollenberger elevated his share target by $2.50 to $16.50. Mr. Ollenberger notes that Peyto is maintaining its large hedge position that protects about 70 per cent and 55 per cent of its gas production in 2024 and 2025. Mr. Ollenberger says, "This should support the sustainability of the company's dividend and allow for further debt repayment" even in a lower natural gas price environment. The Globe reports that Mr. Ollenberger believes investors are likely to avoid natural gas leveraged companies over the next several quarters due to the prospect of even weaker prices. Looking further out, "despite the company remaining committed to a robust hedging program, we believe share performance could improve in 2025 as North American natural gas prices strengthen on the back of additional LNG capacity coming on-line, coupled with Peyto potentially realizing incremental value as it grows its recently acquired Repsol assets."