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National Bank of Canada Raises Tamarack Valley Energy's Price Target to C$16.50 from C$15

BY MT Newswires | ECONOMIC | 10:42 AM EDT

10:42 AM EDT, 05/29/2026 (MT Newswires) -- National Bank of Canada on Friday removed Tamarack Valley Energy (TNEYF) from restriction, raising its price target to C$16.50 from $15 with an outperform rating.

The target price increase reflects the high-graded fundamentals of the business, specifically lower sustaining capital and higher associated free cash flow, the bank said.

Tamarack recently announced the disposition of its Charlie Lake assets for $804 million, representing the sale of one-fourth of its corporate production.

The transaction cements the company as a pure-play Clearwater producer holding a cash balance of $125 million, National Bank said.

Tamarack traded at $12.73 per share at last look on the Toronto Stock Exchange.

Price: 12.73, Change: -0.17, Percent Change: -1.32

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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