Here’s What Wall Street Thinks About Baytex Energy (BTE)

Baytex Energy Corp. (NYSE:BTE) is one of the Best High Volume Penny Stocks to Buy. On December 22, Menno Hulshof from TD Cowen reiterated a Buy rating on Baytex Energy Corp. (NYSE:BTE) and also raised the price target from C$4.75 to C$5. On the same day, Jeremy McCrea from BMO Capital also reiterated a Buy rating on the stock with a price target of C$6.

Jeremy from BMO Capital noted that the company’s fundamentals and upside potential are improving. He highlighted that the company’s 2026 plan includes steady capital spending, which is expected to keep production ahead of previous expectations. Moreover, the analyst also views the company to be attractively placed to manage the fluctuating commodity prices.

BMO Capital also highlighted the strong multi-year growth outlook, driven by its Canadian assets. Lastly, the firm also likes the recent asset sales that refocus the company on higher-return operations.

The positive ratings follow the company’s announcement of its three-year outlook and 2026 budget allocation on December 22. Baytex Energy Corp. (NYSE:BTE) highlighted its 2026 capital budget of $550 million to $625 million. Management targets 3% to 5% production growth and aims to prioritize meaningful shareholder returns. The company also highlighted that a significant portion of the $2.305 billion Eagle Ford sale proceeds will return to shareholders via resuming the Normal Course Issuer Bid.

Baytex Energy Corp. (NYSE:BTE) is a Canada-based oil and gas company focused on acquiring, developing, and producing crude oil and natural gas in the Western Canadian Sedimentary Basin.

While we acknowledge the potential of BTE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTE and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.