Tue Sep 17 07:14:56 UTC 2024: ## RBC Capital Upgrades PrairieSky Royalty, Sees Potential in Multi-Lateral Drilling
**Calgary, Canada -** RBC Capital Markets has upgraded its outlook on PrairieSky Royalty Ltd (PSK:CN) (OTC: PREKF), raising its rating from “Sector Perform” to “Outperform” and increasing its price target to C$33.00 from C$31.00.
The upgrade reflects RBC Capital’s optimistic view of PrairieSky’s future multi-lateral drilling prospects. The firm believes these activities will generate higher returns for the company, justifying the current high valuation.
RBC Capital acknowledges PrairieSky’s strong asset portfolio, which is considered top-tier within the industry. The firm expects these assets to be a key driver of future growth and profitability for PrairieSky.
PrairieSky Royalty holds extensive mineral fee title lands in Western Canada, allowing other companies to develop resources while PrairieSky collects royalty revenues. This business model, characterized by low operational risk and capital expenditure, is considered an attractive investment by RBC Capital.
The upgrade from RBC Capital signifies a positive outlook for PrairieSky Royalty and its investors. The new price target of C$33.00 reflects the firm’s confidence in the company’s strategic direction and its ability to capitalize on its drilling prospects.
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