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Analyst Actions: Raymond James Keeps "Strong Buy" on Gran Tierra

Gran Tierra Energy (GTE.TO) released a drilling update, reporting two dry holds in Colombia, with a third well still drilling, according to the Globe and Mail. But Raymond James Ltd. analyst Rafi Khouri reportedly said in a research note today that investors shouldn't be deterred, believing they are only paying for existing discoveries at the no-debt company.

"Anytime investors are offered free exposure to exploration upside potential from a company such as Gran Tierra (no debt, cash flowing, high netbacks and cash in the bank), we strongly urge further adding to positions," Mr. Khouri added.

Raymond James Ltd. maintained a "strong buy" rating and $10.50 price target.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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