Advantage Oil touts growing production, falling debt

|About: Advantage Oil & Gas Ltd. (AAV)|By:, SA News Editor

Advantage Oil and Gas' (AAV +0.3%) 2017 budget and development plan includes a targeted 17% growth in production to 39,333 boe/day, and 56% growth by 2019 to 52,670 boe/day, with cash flow seen growing by 78% and total debt declining to $55M by year-end 2019 from $165M.

The combination of rising production and falling debt prompts Raymond James to raise its stock price target for AAV to C$13.50 from C$12.75 while maintaining an Outperform rating, saying it is "not aware of any comparable growth plus free cash flow combination in the Canadian energy equity market."