The Globe and Mail reports in its Wednesday edition that BMO Nesbitt Burns analyst Jeremy McCrea has reinstated coverage on Paramount Resources with an "outperform" rating and $37 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $33.70. Mr. McCrea says in a note: "We believe Paramount is one of the more unique E&P businesses with a number of non-producing/hard-to-value assets, that have generally been ignored by investors (especially its long-duration, heavy oil holdings of Cavalier and its Horn river/Liard basin gas prospects). More near-term will be the top quartile Montney and Duvernay results, especially as newly enhanced drilling/completion designs are implemented throughout. Overall, Paramount's 'value creation' looks very impressive, and despite recent surface level distractions that impact quarterly results, sub-surface fundamentals remain intact, that ultimately drive the value of the business." The Globe reported on Aug. 4, Oct. 23 and Jan. 11 that National Bank rated Paramount "outperform." It was then worth $31.72, $29.93 and $25.82. The Globe reported on March 8 that Stifel rated Paramount "buy." It was then worth $26.91.