The Globe and Mail reports in its Tuesday, March 31, edition that Raymond James analysts see a constructive, "Goldilocks" set-up for Cardinal Energy. The Globe's David Leeder writes in the Eye On Equities column that accordingly, the James analysts upgraded the shares to "outperform" from "market perform." They boosted their share target to $13 from $9.50. Analysts on average target the shares at $10.50. The James analysts say in a note: "Spot commodity prices have ripped higher (currently more than $100/bbl) and the WTI curve doesn't dip below $70 (U.S.)/bbl until late-2028. Further, we believe the medium-term macro gets increasingly constructive every day the Strait of Hormuz remains closed (continued drawdown in global inventory), and given there are an abundance of signals suggesting this conflict draws out well into April (or beyond), real energy infrastructure is being damaged in the meantime, demand destruction has so far appeared limited and North American E&Ps are remaining extremely disciplined (the oil supply response -- so far -- looks nonexistent), we think it's likely the setup gets better from here."