The Globe and Mail reports in its Thursday, Dec. 14, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "buy" recommendation for Vermillion Energy. The Globe's David Leeder writes that Mr. MacCulloch bumped his share target ahead by a loonie to $24. Analysts on average target the shares at $24.37. Mr. MacCulloch says in a note: "Although production guidance came in slightly below our forecast, it was more than offset by the removal of EU windfall taxes from our model given that Brussels is not expected to extend taxes beyond 2023 following the retrenchment in European power and natural gas prices. Meanwhile, the company unveiled an enhanced return of capital framework (50 per cent of FCF), front-loaded with a 20-per-cent dividend hike. ... The company has no plans to drill in the U.S., Ireland or the Netherlands next year, which results in modestly declining country-level production profiles, while 2.0 net wells in France are expected to hold output relatively flat." The Globe reported on July 26 that Mr. MacCulloch had cut Vermilion to "hold" from "buy." It was then worth $17.72. The Globe reported on Nov. 7 that Mr. MacCulloch had upgraded his recommendation to "buy." It was then worth $19.13.