The Globe and Mail reports in its Thursday, Dec. 7, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for Topaz Energy. The Globe's David Leeder writes that Mr. MacCulloch tweaked his share target back by a loonie to $27.50. Analysts on average target Topaz Energy shares at $27.96. Mr. MacCulloch says in a note: "Topaz Energy slowed its pace of M&A activity in 2023, executing $66-million of acquisitions to date this year, in stark contrast to the $436-million tally in 2022 as it replenished the balance sheet for future M&A catalysts. The opportunity set remains firmly focused on strongly capitalized producers in Western Canada, with an eye toward future growth, particularly in emerging plays such as the Clearwater, and we believe 2024 will provide an opportunity to accelerate M&A. With interest rates stubbornly elevated at multi-year highs, Topaz continues to provide an alternative source of capital to potential consolidators in the Canadian energy sector." The Globe reported on Aug. 3 and Nov. 2 that Mr. MacCulloch had reaffirmed his "buy" recommendation for Topaz Energy. The shares could then be had for $21.16 and $21.88.