11:36 AM EDT, 07/04/2025 (MT Newswires) -- BMO Capital Markets on Friday reiterated its market-perform rating on the shares Trican Well Service ( TOLWF ) while raising its price target it $6.00 from $5.00 after the oilfield-services company acquired a closely held rival and hiked its dividend.

Trican on Thursday agreed to acquire Iron Horse Energy Services, a private pressure pumper, for about $230 million. The company is also increasing its dividend by 10%.

The deal should generate significant earnings accretion given Iron Horse's low overhead and minimal capex requirements, BMO said.

BMO said the rating reflects Trican's premium valuation relative to peers, although it continues to view the company as best-in-class for WCSB pressure pumping.

Price: 5.38, Change: +0.18, Percent Change: +3.37