The Globe and Mail reports in its Thursday, Aug. 10, edition that ATB Capital Markets analyst Tim Monachello has elevated his recommendation for PHX Energy Services to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Monachello now targets the shares at $11, up from $10. Analysts on average target the shares at $8.90. Late Tuesday the company released better-than-anticipated second quarter results. Mr. Monachello says in a note: "PHX Energy Services' strong Q2 results showed resilient rates and margins across its operations and we understand that its U.S. activity and pricing outlook has firmed materially alongside improved commodity prices, which we view as a meaningful improvement in PHX Energy's risk profile for investors. ... Looking forward, we believe activity levels are likely to stabilize in the U.S. and will likely move moderately higher in the current commodity price environment. All told, we believe the risks related to PHX Energy's U.S. operations are considerably less pronounced than we had previously believed. Still, we take a conservative stance in our modeling and include a 2-per-cent reduction in U.S. segment day rates beginning in Q3/23."