The Globe and Mail reports in its Friday, May 16, edition that National Bank Financial analyst Travis Wood has reaffirmed his "outperform" recommendation for ARC Resources. The Globe's David Leeder writes that Mr. Wood gave his share target a $2 boost to $35. Analysts on average target the shares at $32.85. Mr. Wood tweaked his share target in response to ARC Resources' agreement with Strathcona Resources to acquire its Kakwa assets for all-cash consideration of $1.6-billion. Mr. Wood says in a note: "Although somewhat material, the tuck-in style and asset fit should make this somewhat of an easy integration for the company. Based on our estimates and the all-cash nature of the deal, our CFPS is up 10 per cent, while our FCF is up less than the company points to given what may be our higher than anticipated capital spending across the newly acquired asset next year (near $200-million). Broadly, it makes sense, with synergies likely to come from infrastructure optimization as well as scale itself." The Globe reported on Jan. 21 that RBC rated ARC "outperform" when it was worth $26.90. The Globe reported on Jan. 31 that Mr. Wood continued to rate ARC Resources "outperform." The shares were then worth $25.26.