The Globe and Mail reports in its Thursday edition that ATB Capital Markets analyst Patrick O'Rourke has lowered his recommendation for Spartan Delta to "sector perform," from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. O'Rourke shaved his share target by a loonie to $5. Analysts on average target the shares at $6. The Globe says that while Mr. O'Rourke thinks Spartan's third quarter financial release brought few surprises, he nonetheless is taking a "neutral view" of its shares after a "first gauge of the new business" following the $1.7-billion sale of its Gold Creek and Karr Montney assets to Logan Energy earlier this year. Mr. O'Rourke says in a note: "Although Spartan management has an excellent track record of long-term value creation (as demonstrated by the recent asset sale, special dividend payment, and spin out of Logan Energy), we have determined that a modestly higher risking factor of our NAV estimates is prudent and appropriate as we evaluate the medium- and longer-term outlook for the assets and business strategy. ... [Spartan] plans to release its formal 2024 guidance before year-end, providing investors with a more fulsome view of the long-term strategy."