The Globe and Mail reports in its Wednesday, March 12, edition that Michael Harvey, an analyst at RBC Dominion Securities, believes that Whitecap Resources' merger with Veren in a $15-billion deal is creating "a new heavyweight" in Canada's energy sector. The Globe's David Leeder writes that Mr. Harvey trimmed his share target for Veren to $9.75 from $10 with an "outperform" rating. Analysts on average target Veren shares at $11.19. His target for Whitecap shares remains at $14, exceeding the $13.54 average, also with an "outperform" recommendation. Mr. Harvey says in a note: "'New' Whitecap features a roughly $13-billion (EV) entity with 370,000 boe/d [barrels of oil equivalent per day] of production and 2.3-billion boe of reserves, focused within Alberta's Montney and Duvernay developments. The transaction makes sense in our minds, boosting critical mass within similar asset bases, plus harvesting the benefits of combined synergies. ... Incentives for the transaction include reaching a critical mass that is desirable in public markets, further expanding the combined entity s shareholder base and market following. This is expected to drive multiple expansion that is more aligned with large-cap peers."