Does anyone have the Dundee analysis?See last sentence
FP says Dundee sees higher oil, likes Talisman, others
2009-06-23 05:19 MT - In the News
See In the News (C-TLM) Talisman Energy Inc
The Financial Post reports in its Tuesday edition that Dundee Securities Corp. has new energy price predictions, joining a slew of other brokers that have recently revamped their math. The Post's Carrie Tait, writing in Trading Desk, says if you own oil and gas companies, you will like it. She says if you own a Hummer and plan on doing a cross-country road trip this summer, it is bad news. A barrel of oil will cost an average of $75 (U.S.) in 2010, Dundee's analysts predict. That is up 15 per cent from their previous guesstimate of $65 (U.S.). In 2009, a barrel sell for an average of $60 (U.S.), compared with its original prediction of $50 (U.S.). Dundee cites three reasons for the change. First, an increase in U.S. inflation expectations, which tends to drive crude prices higher as investors seek an inflation hedge. Next, weakness in the U.S. dollar. Third, an improvement in the market's perception of how quickly we can come out of this global downturn. Dundee's top picks are Talisman Energy, Gran Tierra Energy and Crescent Point Energy Trust. Its top gas trust is Daylight Resources Trust. In the junior and intermediate category, blue ribbons go to Angle Energy, Breaker Energy, and Fairborne Energy.