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Baytex Energy (TSX:BTE) shares have surged 41% in the past month, catching investors' attention. The company's recent rally follows robust trading volumes and renewed interest in oil producers. The upward momentum is fueled by optimism that sentiment around oil producers is swinging back into favor. The fair value of Baytex Energy, according to the most popular narrative, sits slightly above its last close price, signaling a touch of optimism despite recent volatility. However, ongoing tariff uncertainty and significant oil price swings could challenge Baytex Energy's new strategy and emerging growth narrative.

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