Scotiabank has revised its price target for Paramount Resources (PRMRF, Financial), reducing it from C$31 to C$29 while maintaining an Outperform rating on the stock. This adjustment comes as part of the firm's comprehensive review of its coverage in the North American Natural Gas sector.
The bank's analyst, Cameron Bean, relayed that despite recent tariff discussions impacting the market, there remains a strong optimism about the sector's future. Scotiabank believes that the current market conditions indicate the onset of a bullish phase for natural gas investments, with Paramount Resources positioned favorably to benefit from this trend.
