The Globe and Mail reports in its Tuesday, April 23, edition that CIBC World Markets analyst Jamie Kubik has lowered his recommendation for PrairieSky Royalty to "neutral" from "outperformer." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kubik gave his share target a $3.50 boost to $31. Analysts on average target the shares at $27.19. Mr. Kubik says in a note: "We saw heavy oil basis narrow toward the end of Q1 and SCO return to a premium vs. WTI as egress concerns moderated. A combination of geopolitical risk and the potential for a soft landing contributed to oil price strength, but headwinds on differentials (and crack spreads) put pressure on Q1/24 revenues and earnings. A mild winter has left natural gas storage inventories seasonably loose and likely to keep a ceiling on NYMEX for the near term. We hold a stronger bias for liquids over natural gas." Mr. Kubik calls PrairieSky "one of his top ideas." The Globe reported on Oct. 13 that National Bank analysts Travis Wood and Dan Payne rated PrairieSky "sector perform." It was then worth $25.12. The Globe reported on March 21 that ATB Capital analyst Patrick O'Rourke rated PrairieSky "sector perform." The shares could then be had for $25.76.