The Globe and Mail reports in its Thursday, Nov. 30, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for Spartan Delta. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch gave his share target a 50-cent trim to $5.50. Analysts on average target Spartan Delta shares at $5.90. The Globe says Mr. MacCulloch expects the market to "adopt a more cautious view" on Spartan Delta's first foray into the West Shale basin Duvernay formation, citing "its checkered history of industry result." On Tuesday, Spartan announced the completion of a series of asset acquisitions in the area for approximately $25-million. It came alongside the release of Spartan's preliminary 2024 guidance and announcement chief financial officer Geri Greenall plans to step down at year-end. Mr. MacCulloch says in a note: "Details on development plans remain limited as Spartan pursues further consolidation in the area, which it views as fragmented, undercapitalized and ripe for consolidation. However, the company plans to provide additional colour on long-term development plans in the new year, potentially coinciding with further M&A activity."