RE:TD Maintains Tender and $2.20 Target
"we would expect the company's share price to eventually settle at around C$1.20 ". $1.20? Sounds too dark. The deal was announced on March 20 when the oil price (WTI) was between $40-$42. Even with lower production of 15,023 due to higher prices of $29.99 in Q2 vs $21.07 and 17,000 in Q1 the revenue per day in Q2 was ~450K vs ~364K in Q1. Bigger inventory, more hedge by 1000bbl/d. So...to drop almost to pre-announcement price of $1.11 sounds too much. But...who knows?