OTCQB:PSHIF - Post by User
Post by
venuson Jun 21, 2019 3:50pm
279 Views
Post# 29850841
Globe and Mail report
Globe and Mail report Globe says PetroShale gives good U.S. exposure
2019-06-21 07:51 ET - In the News
The Globe and Mail reports in its Friday, June 21, edition that Laurentian Bank Securities analyst Jonathan Tempro says investors with "Canadian phobia" should give PetroShale (96 cents) a gander, noting the Denver-based company is one of few Canadian-listed equities with pure-play United States exposure. The Globe's David Leeder writes in the Eye On Equities column that Mr. Tempro says, "PSH offers investors exposure to high-quality U.S. light oil production that receives premium pricing and has no exposure to Canada's regulatory overhang." Touting its "compelling valuation for a high-growth, high-quality U.S. asset," Mr. Tempro commenced coverage with a "buy" rating. Mr. Tempro set a share target of $2. Analysts on average target the shares at $2.10. Mr. Tempro says in a note: "PSH has transitioned from an acquisition focus with non-operated interests to a development mode with a focus on materially growing operated production and increasing future drilling locations in the 'Tier 1' assets. In the long-term we believe there is opportunity for further consolidation and with continued drilling execution, we believe management can execute on its target of sustainable production over 10,000 boe/d."