- RBC Capital analyst Greg Pardy raised the price target for Baytex Energy Corp BTE BTEGF to C$7 from C$6 while maintaining the Sector Perform rating on the shares.
- Pardy notes Baytex is off to a nice start in 2022 amid ongoing debt reduction and impressive drilling results in its emerging Clearwater oil play.
- The analyst mentions that the company is also poised to execute a share buyback program.
- Recently, BMO Capital analyst Ray Kwan raised the price target for Baytex Energy to C$8.50 from C$8.
- Price Action: BTE shares are trading lower by 2.28% at C$6.42 on TSX, and BTEGF is lower by 3.12% at $4.97 on the last check Monday.
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