RE:RE:BNS ups Target PriceSorry don't have the link. I am a Scotia customer they daily review of stocks with recent news. I pasted the report. Bankers Petroleum Ltd. (BNK-T C$5.06) Gavin Wylie - (403) 213-7333 (Scotia Capital Inc. - Canada) Where Do We Go From Here? Event Pertinent Data New Old Rating: SO SP Risk: -- Speculative Target: 1-Yr $8.00 $5.50 CFPS13E -- US$1.08 CFPS14E US$1.27 US$1.25 CFPS15E US$1.22 US$1.10 New Valuation: Based on our risked NAV ($7.73/share) that also equates to 6.1x 2015E debt-adjusted CF and 1.10x our 2P NAV. Old Valuation: Based on our risked NAV ($5.20/share) that also equates to 4.2x 2014E debt-adjusted CF and 0.91x our 2P NAV. Key Risks to Target: Commodity prices, exploration, project execution, political/regulatory. Full Story ScotiaView Analyst Link Table of Contents ■ Our recent trip with Bankers' CEO David French and COO Suneel Gupta left us incrementally more bullish toward the outlook for 2014/2015. Implications ■ While we recognize we have missed the initial run off of the 2012/2013 lows, we see the company finding clear operational momentum (both production / margin improvement) and still attractively valued (~30% discount to our Base 2P NAV). In our view, the path to closing the NAV valuation gap is largely contingent upon the company's ability to execute plans to see 2%-4% per quarter production growth rate (~15% p.a.) and deliver overall production levels that would map at or above those implied by the 2P reserves. ■ We have updated Bankers Petroleum to a Sector Outperform (vs. Sector Perform) rating and have increased our one-year target price to $8.00 (vs. $5.50) per share based on our revised risked NAPVS estimate of $7.73 (vs. $5.20). Recommendation ■ We see Bankers as offering material upside from current levels as it continues to execute on quarterly production and secondary projects that should help to further close the valuation