The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Mike Mueller has reaffirmed his "buy" recommendation for Whitecap Resources. The Globe's David Leeder writes that Mr. Mueller gave his share target a 50-cent boost to $14.50. Analysts on average target the shares at $13.23. Mr. Mueller says in a note: "Wednesday after market, Whitecap reported a healthy beat on Q1/24 results and announced an increase to this year's production guidance with no change to spending levels. Production last quarter of 169,660 boe/d came in 4 per cent above both our forecast and the Street driven by strong performance in the Montney and Glauconite. Whitecap also printed CFPS of 64 cents, beating both our forecasts and the Street at 60 cents. Due to this outperformance, as well as its Musreau battery starting up two weeks ahead of schedule and 10 per cent under budget, Whitecap is increasing its 2024 guidance by 2.0 mboe/d to 167.0-172.0 mboe/d with no change to spending of $900-million to $1.1-billion. ... The company is growing its business 5 per cent a year into what we believe will be a more compelling regional pricing environment while having over two decades of inventory to sustain this growth rate."