PrairieSky Royalty Price Target Raised to $32 from $20 by National Bank of Canada

11:46 AM EDT, 07/15/2025 (MT Newswires) -- National Bank of Canada reiterated its sector-perform rating on the shares of PrairieSky Royalty (PREKF) while raising its price target to $32.00 from $30.00 following second-quarter results from the Western Canadian oil and gas royalty company.

The higher price target was a result of the bank's minor changes to its forecast in connection with the quarterly update. The bank said it updated its coverage to reflect 2026 estimates.

"We are of the view that this year ahead period better captures investor timeframes, our price assumptions and long-term value as we expect volatility to moderate," the bank said.

PrairieSky reported average royalty production of 26,500 barrels of oil equivalent per day (boe/d), compared to National Bank's estimate of 25,500 boe/d and consensus forecast of 25,300 boe/d.

The company's cash flow per share of $0.41 was ahead of both National Bank and street expectations of $0.38.

Price: 24.23, Change: +0.66, Percent Change: +2.80

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