The Globe and Mail reports in its Wednesday, April 15, edition that RBC's Keith Mackey has lowered his recommendation for Trican Well Service to "sector perform" from "outperform." The Globe's David Leeder writes that Mr. Mackey continues to target the shares at $7.50. Analysts on average target the shares at $7.69. Mr. Mackey believes Canada's fracturing market is now "well supplied," leading to "softening" pricing as providers also enter an upgrade cycle to 100-per-cent natural gas equipment, lowering the amount of cash available for buybacks. Mr. Mackey calls the Calgary-based company "a leading Canadian service provider, with strong offerings in pressure pumping and cementing." He says in a note: "These factors combine into a lower relative return proposition than other names under coverage. Trican led the Tier IV DGB upgrade cycle in Canada which provided a competitive advantage and timed the market well. We are now at the beginning of a new upgrade cycle to 100 per cent natural gas engines. This is not an issue in itself, however, with soft general fracturing pricing and more players vying to provide this option, we expect returns to be relatively less compelling for service providers, near term."