Scotia Bank upgrade April 12 - Kelt 9.50 BUY
So Scotial bank sees Kelt at $9.50, pretty well 50% up from here.
The 100 million dollar question, is what is Kelt going to do in 2025 when its CF exceed 500 million dollars and it is producing 50,000 Plus boe/day and with the way oil prices are going all with zero debt?
Currently Dec 31, 2023 NAV was $22.75 assume a 20% lift in 2024 and NAV will be around $27.30 a share, not to shabby.
There is only so much Mike Rose can do when AECO is $1.40 and there is only so much Murray Edwards can move a company with a 119 billion dollar market cap with the shares trading at $110 dollars.
But there is a lot David Wilson can do with a company with zero debt, a massive montney acerage, and exploding opportunity in the charlie lake, with a massive 300 section acerage in the BC montney that is waiting for the market to deiver into.
Really with no debt, and a boat load of reserves, it is a safe conservation play managed by one one of the super hero's of the industry.
Kelt is to cheap here.
It is a long term hold in my portfolio.
IMHO