GREY:SMBZF - Post by User
Post by
kolokoyon Jan 23, 2013 9:46am
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Post# 20876773
the PaiPai effect
the PaiPai effect
Bank of AmericaMerrill Lynch has initiatedcoverage ofAfrica Oil this morning. Their rating is a buy and their target price is 77.40 Swedish Krona. At current exchange rates, that works out to about $11.75 Canadian dollars.
That makes 4 new research coverages initiated on AOI since the beginning of January. Good to see more brokerage firms getting on board.
I also see that following yesterday's afternoon rise in AOI's share price that the stock is currently trading up about 2.5% in Stockholm this morning. Volume is decent which is encouraging. It opened very strongly in Stockholm on heavy flurry of volume and was up almost 5% early in the Swedish trading session but has since settled back a bit.
What is even more interesting is that both Afren and Tullow are trading up today in London. Those two companies are AOI's partners on the PaiPai well.
API38