The Globe and Mail reports in its Friday, Dec. 5, edition that National Bank Financial analyst Dan Payne has reaffirmed his "outperform" recommendation for Tamarack Valley Energy. The Globe's David Leeder writes that Mr. Payne hiked his share target to $9 from $8. Analysts on average target the shares at $7.92. Mr. Payne says in a note: "Its annual budget reflects the strength of outcome of investment and execution across its portfolio, and notably the impact of waterflood in the Clearwater, which is compounding returns faster than previously suggested to the benefit of accelerated returns to shareholders; Tamarack Valley is poised for a 19-per-cent return profile (vs. peers 8 per cent), on a leverage of 0.3 times (vs. peers 0.7 times), while trading at a 2026 estimated EV/DACF [enterprise value to debt-adjusted cash flow] of 4.8 times (vs. peers three times)." The Globe reported on Sept. 19 and Oct. 31 that Mr. Payne had reaffirmed his "outperform" recommendation for Tamarack Valley. The shares could then be had for $5.89 and $6.22.