Parex Resources initiated with an Overweight at Barclays

Barclays analyst Anthony Linton initiated coverage of Parex Resources with an Overweight rating and C$29 price target. The analyst initiated coverage on the Canadian oil and gas space with a Positive view. Producers are well positioned in a volatile environment, Linton tells investors in a research note. He enters 2023 with "cautious optimism" on midstream names, saying the tailwinds of volume growth should support fee-based EBITDA growth and return of capital initiatives.