The Globe and Mail reports in its Wednesday, Feb. 28, edition that Stifel analyst Cody Kwong is sticking with his "buy" call on Spartan Delta. The Globe's David Leeder writes that Mr. Kwong gave his share target a 25-cent boost to $4.50. Analysts on average target the shares at $4.93. Mr. Kwong says in a note: "Spartan Delta's 4Q23 results were slightly ahead of expectations, while 2023 reserves were as expected with the high-profile disposition/spin-out activities that unfolded earlier in the year. The 2024 budget observes a 4-per-cent reduction in its base capital plans and a 9-per-cent decrease in operating costs, while ideally reconfirming an unchanged production range of 38,500-40,500 boe/d. While the company has yet to offer insights on its Duvernay development plans for the year, it did disclose that its Duvernay acreage position has increased to over 170,000 net acres (up from 130,000 acres in January), with the potential to add more through the spring. With our cash flow estimates pushing higher, we increase our target price." The Globe reported on Nov. 9 that ATB Capital Markets analyst Patrick O'Rourke had cut Spartan Delta to "sector perform," from "outperform." It was then worth $3.62.