The Globe and Mail reports in its Friday, Jan. 16, edition that Raymond James analyst Luke Davis has elevated his recommendation for Paramount Resources to "outperform" from "market perform." The Globe's David Leeder writes that Mr. Davis gave his share target a $2 boost to $29. Analysts on average target the shares at $26.71. Mr. Davis says in a note: "Paramount has demonstrated strong operational momentum backstopped by solid execution building out new facilities -- a key differentiator that we expect could continue to drive estimates higher. Further, the company has a long list of highly economic projects to be phased in over the next decade plus, combined with a balance sheet that is equipped to fund the next several years of development. With a net cash position, the company also has the ability to weather any near-term price volatility if the macro environment deteriorates from here. Finally, the company has a deep portfolio of assets that are largely free options at the moment, which we expect could be developed or monetized over time -- particularly compelling given management's long history of strategic transactions. Overall, we expect Paramount to continue bringing forward latent value across its portfolio."