What's Going On With Athabasca Oil Shares Today

RBC Capital analyst Luke Davis raised the price target for Athabasca Oil Corp ATH ATHOF to C$3.25 from C$2.50 while maintaining the Sector Performs rating on the shares. The analyst removed the Speculative Risk qualifier.
The analyst states that Athabasca’s positioning continues to improve, with steady operational performance setting the stage for a strategic shift in the 2023-time frame.
Davis mentions that the company is ahead of plan on term debt repayment, with open market purchases and warrant proceeds accelerating the pace.
He adds that given that the recent debt refinancing provided a reset, he now expects investors to shift their focus toward clarity on future development plans and capital allocation priorities.
Price Action: ATH shares are lower by 6.52% at C$2.58 on TSX, and ATHOF is lower by 6.76% at $2.01 on the last check Wednesday.

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