The Globe and Mail reports in its Friday, April 17, edition that TD Cowen analyst Menno Hulshof has upgraded Strathcona Resources to "buy" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hulshof continues to target the shares at $47. Analysts on average target the shares at $44. Mr. Hulshof thinks improving liquidity is "removing a key impediment to institutional ownership." Mr. Hulshof says in a note: "Strathcona is a differentiated offering with higher-than-average growth targets (10-per-cent total production CAGR through at least 2031) and balance sheet leverage (but normalizing quickly on higher spot WTI prices). Its plan is well articulated and largely driven by 'drill-to-fill' and brownfield SAGD expansions. Strathcona has a strong track record of creative deal structuring, including a USGC CBR back-stopped crude purchase agreement (advantaged cost structure) and the counter-cyclical acquisition of the Hardisty Rail Terminal. We estimate it is cash tax sheltered through year-end 2026." The Globe reported on March 7, 2025, and Dec. 4, 2025, that Mr. Hulshof rated Strathcona "hold." The shares could then be had for $27.39 and $42.87.