The Globe and Mail reports in its Friday, March 13, edition that analysts at Raymond James dropped their 2020 and 2021 oil and natural gas price assumptions in reaction to the steep drop endured this week. The Globe's David Leeder writes that Chris Cox and Jeremy McCrea say in a research note: "While we believe it is important to provide investors some context to what the go-forward outlook could be under the current price environment, we nevertheless feel it necessary to caution that these revised estimates reflect a 'first crack' at assessing our coverage universe under the current environment, as this remains a very fluid environment with a tremendous amount of uncertainty." With those changes, the analysts downgraded
Petrus Resources to "underperform" from "market perform" with a 10-cent target, down from 25 cents. Analysts on average target the shares at 39 cents. They also cut Inter Pipeline to "underperform" from "market perform" with a $13 share target, down from $24. Analysts on average target Inter Pipeline shares at $23.63. The analysts cut Surge Energy to "underperform" from "market perform" with a 50-cent share target, down from $1.50. Analysts on average target the shares at $1.20.
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