Scotiabank Upgrades Paramount Resources Following Asset Sale and Strong Q3 Results
Paramount Resources (PRMRF) shares rose 0.9% following an upgrade from Scotiabank, which moved the stock from Sector Perform to Sector Outperform. The bank raised its price target for the company to C$42 from C$40. The upgrade follows the successful sale of Paramount's Kaybob assets and the reporting of constructive third-quarter financial results. Analysts suggest that the divestment of these assets clears a path for the company's next phase of growth.
Topics: asset sale earnings results stock upgrade
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