The Globe and Mail reports in its Friday, Oct. 17, edition that Desjardins analyst Chris MacCulloch has moved his recommendation for Tamarack Valley Energy to "buy" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch boosted his share target by a loonie to $7.75. Analysts on average target the shares at $7.10. Mr. MacCulloch says in a note: "Since our June 3 downgrade of the stock, Tamarack Valley has delivered a whopping 35.4-per-cent return, which has outperformed the S&P/TSX Capped Energy Index return of 8.6 per cent (excluding dividends). Simply put, we got off the story far too early! Recall that our downgrade was primarily driven by our bearish view on oil prices heading into 2026, which disproportionately weighed on the company's FCF generation relative to peers given its heavy oil–weighted production base and elevated balance sheet leverage. While we maintain our bearish view on 2026 oil prices, recent upward revisions to our estimates stemming from continued improvements in waterflood performance and non-core asset dispositions have better positioned TVE, with 2026 strip D/CF now tracking toward 0.7 times and sustaining capex requirements below $300-million."