11:50 AM EDT, 05/01/2025 (MT Newswires) -- National Bank of Canada on Thursday reiterated its outperform rating on the shares of Tenaz Energy ( ATUUF ) while raising its price target increased to $23.00 from $21.00 after the company closed the acquisition of NAM Offshore (NOBV) and updated annual guidance..

Following the close of the NOBV acquisition, the company renamed the subsidiary to Tenaz Energy Netherlands.

Tenaz also provided an updated 2025 production guidance of 9,000 to 9,500 barrels of oil equivalent per day (boe/d), supported by capital spend of $86.7 million to $96.7 million.

This compares to the bank's prior estimate of 8,500 boe/d, supported by capex of $95 million.

Price: 15.89, Change: +0.18, Percent Change: +1.15