The Globe and Mail reports in its Thursday, March 6, edition that Raymond James analyst Luke Davis is sticking with his "market perform" call on Baytex Energy. The Globe's David Leeder writes in the Eye On Equities column that Mr. Davis gave his share target a 50-cent trim to $5 (all figures Canadian unless otherwise stated). Analysts on average target the shares at $5.55. Mr. Davis says in a note: "Baytex's 4Q24 results were generally as expected with a slight cash flow beat largely driven by non-recurring items. The company left its 2025 outlook unchanged despite some weather impacts in the first quarter with management focused on optimization of operated volumes in the Eagle Ford and continued growth in select plays in Canada with the Duvernay continuing to screen favourably. While Canadian SMID-caps have been under pressure in light of macro uncertainty (tariffs, OPEC production cut reversals), we believe the company's cross border asset mix should provide some insulation with recent relative underperformance likely overdone. That said, we continue to believe a mid-$70 (U.S.) oil price is required for Baytex to make meaningful improvements to the current capital structure and enhance flexibility."