BUZZ-Baytex Energy Corp: First Energy Capital upgrades to "outperform"

Mon Nov 16, 2015 10:57am EST
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** Canadian oil and gas producer's U.S.-listed shares up 5.3 pct at $4.17; Toronto-listed shares up 6.1 pct at C$5.58

** Analyst at First Energy Capital upgrades to "outperform" from "market perform", citing recent share price weakness

** Baytex exceeded the brokerage's cash flow per share estimate, helped by lower costs

** Baytex had suspended monthly dividend and stopped further drilling activity at two regions and lowered 2015 production forecast in August to cope with weak oil prices

** Nine out of 16 brokerages covering the company have a "hold" rating on the stock, 6 have "buy" or a higher rating and only one has a "sell" rating

** Up to Friday's close, Toronto-listed stock had declined nearly 73 pct this year