The Globe and Mail reports in its Friday, March 14, edition that Desjardins analyst Chris MacCulloch has reaffirmed his "hold" recommendation for Peyto Exploration & Development. The Globe's David Leeder writes that Mr. MacCulloch gave his share target a 50-cent boost to $17. Analysts on average target the shares at $18.75. Mr. MacCulloch says in a note: "With integration of the Repsol Canada assets essentially complete, the company plans to remain disciplined with respect to its development program in response to fluctuating natural gas prices. Meanwhile, Peyto remains well-insulated from tariffs with synthetic exposure to U.S. price hubs and materially all capital and supplies sourced domestically. ... Unfortunately, there are less visible improvements on the horizon in 2025, with management specifically noting on the conference call that most of the 'low-hanging fruit' had now been picked. Fair enough. That said, management identified several tailwinds that could deliver additional savings this year, including a normalization of methanol prices which have burdened operating costs as of late. Regardless, we feel inclined to reiterate Peyto's coveted status as the lowest-cost publicly traded producer in the WCSB."