Obsidian Energy assumed with Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Obsidian Energy (OBE) to Sector Perform from Outperform with a price target of C$10, down from C$12, after assuming coverage of the name. Obsidian remains in the process of assessing its full-year 2025 development plans and longer-term strategic direction following its transaction with InPlay Oil, citing the choppy macroeconomic environment, the analyst tells investors in a research note. The firm says the minimal near-term visibility toward any meaningful catalysts gives it pause. Obsidian may take a step back on its activity levels this year, contends RBC.