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Akanksha Bakshi

BMO Capital Sees Significant Catalysts To Unlock Upside Potential In Rubellite

BMO Capital analyst Mike Murphy initiated coverage of Rubellite Energy Inc (TSX:RBY) (OTC:RUBLF), a growth-focused, pure-play Clearwater heavy oil explorer and producer.

The analyst initiated Rubellite with an Outperform rating on the shares and a price target of C$6.

Murphy states that Rubellite provides investors with pure-play exposure to the Clearwater, which they consider to be the most economical and fastest-growing conventional oil play in Western Canada.

Additionally, the analyst believes that Rubellite has the inventory depth and quality to deliver best-in-class production per share growth in the future, with significant upcoming exploration catalysts unlocking upside potential.

Price Action: RBY shares are trading lower by 1.45% at C$4.09 on TSX, and RUBLF is lower by 3.20% at $3.18 on the last check Friday.

Photo Via Company

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