The Globe and Mail reports in its Tuesday, May 6, edition that ATB Capital Markets analyst Tim Monachello continues to rate Total Energy Services "outperform." The Globe's David Leeder writes that Mr. Monachello gave his share target a $1 boost to $18. Analysts on average target the shares at $17. Mr. Monachello says in a note: "Total Energy Services is down 22 per cent year-to-date, 12 per cent since Liberation Day and down 8 per cent over the past 12-months. Total Energy offers defensive positioning with high Canadian (46 per cent of 2025 estimated revenue) and Australian (24 per cent of 2025e revenue) exposure and while its U.S. exposure is more modest than most (31 per cent of 2025e revenue). Further, Total Energy's growth is largely supported by long-term contracts in Australia that are tied to LNG for Asian markets, one of few potential winners following Liberation Day. Further, Total Energy has a clean balance sheet with 0.5 times net leverage at year-end 2024, and we believe its downside risk is also mitigated by its compelling valuation that leaves limited room for multiple compression." The Globe reported on March 11 that Mr. Monachello rated Total Energy "outperform." It was then worth $9.35.