The Globe and Mail reports in its Wednesday, May 14, edition that National Bank Financial analyst Travis Wood has reaffirmed his "outperform" recommendation for Whitecap Resources. The Globe's David Leeder writes that Mr. Wood jacked his share target up to $15 from $14.50. Analysts on average target the shares at $13.16. Following the close of its $15-billion merger with Veren, Mr. Wood sees notable value in Whitecap. However, he warns that thesis likely will not last long as "the current disconnect is far too compelling to ignore, notably considering the asset quality, operating synergies and financial strength." Mr. Wood says in a note: "Whitecap is on pace to produce more than 370 mboe/d as one of the largest landholders across the AB Montney and is trading at what we believe to be a dislocated value relative to peers, underscored by a 16-per-cent total yield. Our FCF forecast after the sustainable dividend payment now represents $630-million next year, which will be used for a strategic combination of debt repayment and share repurchases. Based on our forecast, Whitecap requires a very reasonable 22 per cent of cash flow to fund the base dividend, which implies what we view as a mispriced 9.1-per-cent yield."