The Globe and Mail reports in its Friday, Aug. 4, edition that National Bank Financial analyst Dan Payne has elevated his recommendation for Paramount Resources to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne is sticking with his $40 share target. Analysts on average target the shares at $38.25. The Globe reports that Mr. Payne says he is "optimistic" on Paramount as it rebounds from the impact of the wildfires in Western Canada. Mr. Payne says in a note: "A disrupted period that its assets proved resilient returns through, while guidance has been cleansed, and it remains well positioned to resume momentum through the back half of the year and in to 2024. ... Paramount is poised for a 31-per-cent return profile (vs. peers 14 per cent) on leverage of negative 0.2 times (vs. peers 0.1 times) while trading at 3.5 times 2024 estimated EV/DACF [enterprise value to debt-adjusted cash flow] (vs. peers 3.9 times). ... As its free cash flow profile builds, the emphasis within the outlook, per management commentary, in addition to organic value growth, that outlook should include tactical A&D and augmented return of capital."