The Globe and Mail reports in its Friday, May 12, edition that ATB Capital Markets analyst Nate Heywood has elevated his recommendation for Superior Plus to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Heywood's share target moved from $12 to $13, which is 20 cents under the consensus. Mr. Heywood says in a note: "SPB has meaningfully expanded both its U.S. and low carbon fuel exposure with the announced acquisition of Certarus. ... SPB has established a platform for diversified growth through both compressed natural gas and hydrogen deliveries. We expect the near-term focus will remain on organic growth, balance sheet maintenance and synergy realization. In the long-term, we expect that the higher interest rate environment will favour larger propane distributors like SPB. With a leverage multiple of 3.9 times as of Q1/23, the company is at the high-end of its 3.5 to four times target range; however, we expect leverage levels to improve into 2024 (ATB estimate: 3.5 times). SPB's cash flow resiliency and 7.2-per-cent dividend yield remain an attractive consideration given the modest 2023 estimated payout ratio of 40 per cent."