The Globe and Mail reports in its Wednesday, Oct. 30, edition that following the release of weaker-than-anticipated third quarter results after the bell on Monday, three equity analysts downgraded PrairieSky Royalty ($13.10). The Globe's David Leeder writes in the Eye On Equities column that RBC Dominion Securities analysts Luke Davis cut the stock to "sector perform" from "outperform" with a $17 share target. The Globe says he expects it to underperform until its volume decline reverses or its stock multiple is adjusted downward to a "much more modest premium" to Freehold Royalties ($6.69). CIBC World Markets analyst Jamie Kubik lowered PrairieSky to "neutral" from "outperformer" with an $18 share target, expecting the stock's multiple compression to continue based on a "lack of clarity on Canadian basin trends." Eight Capital analyst Adam Gill moved PrairieSky to "sell" from "neutral" with a $12.15 share target. Analysts on average target the shares at is $18.04. The Globe reported on May 27 that Raymond James analyst Jeremy McCrea said there was "plenty of upside for long-term investors." He rated the shares "market perform." PrairieSky shares were then worth $17.98.