The Globe and Mail reports in its Friday, March 14, edition that National Bank Financial analyst Dan Payne is keeping his "outperform" recommendation and $8 share target for Birchcliff Energy intact. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $7.27. Mr. Payne says in a note: "In association with its formal year-end filing that validated its previously reported preliminary year-end, the company provided a few complementary outcomes that reflect continued improvement of its fundamental value profile. Strip pricing has improved since last update to support 30-per-cent expansion to its 2025 forecast cash flow profile (indicative of the strength of its NYMEX basis market exposure), indicative of its relative sensitivity to the commodity (and which should further compound as AECO basis structurally compresses in association with LNG Canada coming on-stream through H2/25). ... That, in association with outperformance of its organic capital efficiencies, which sees one well removed from its annual program (26 wells to come on-stream through the year; capex unchanged), serves to positively compound its free cash flow profile by a factor of 80 per cent."