The Globe and Mail reports in its Friday, Sept. 22, edition that Eight Capital analyst Christopher True rated Coelacanth Energy "buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. True targets the shares at $1.25. Analysts on average target the shares at $1.07. Mr. True says Coelacanth is undervalued compared with its peers. He says the company offers investors "unique exposure to Montney growth" as well as "high impact production and cash flow growth." Mr. True says in a note: CEI provides unique exposure for investors to capture future upside in production and reserves growth in a region that is dominated by more mature E&Ps with larger market capitalizations. The company currently sits on approximately 150 sections of land at Two Rivers within the oil window of the Montney fairway situated in Northeast British Colombia and intends to grow production from 0.3 MBOE/d [thousand barrels of oil equivalent per day] to 20 MBOE/d in the next 3 years." The Globe says Mr. True thinks Coelacanth is "being built to be taken out" and already possesses a logical buyer in Vermilion Energy, which owns an 18-per-cent interest and "continues to buy shares on the open market."