Athabasca Oil Corp. (ATH:CA) (ATHOF)
Analyst Coverage Update
Athabasca Oil Corp. received a modest price target increase from National Bank to $9.00 from $8.50, with the firm maintaining its Outperform rating, reflecting continued confidence in the company’s operational execution and leverage to a supportive commodity price environment. National Bank’s revised valuation incorporates improved cash flow visibility driven by stable production levels, disciplined capital spending, and Athabasca’s exposure to thermal oil assets, which benefit disproportionately from stronger heavy oil pricing. The Outperform rating indicates the bank expects Athabasca to generate returns above sector peers, supported by balance sheet strength, ongoing debt reduction, and the potential for increased shareholder returns through free cash flow generation if current oil market conditions persist.
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