Raymond James Likes Shamaran
Read this over on the PMI-V (another oil play i own) postings and notices Shamaran was mentioned, thought i would repost it here for the Shamaran share holders.
Raymond James Research Summary “I’ll have some oil with that please”
- We are adjusting our oil price forecast (WTI Crude) for 2011 to remain at or near $90 per barrel. For 2012 we forecast $100/bbl and beyond that the price of crude will likely remain at or above $110/bbl
- We are bullish on oil and bearish on natural gas for the foreseeable future
- We have revised our targets on individual stocks as we use higher NAV calculations for the producers we cover.
- In the large-cap space we continue to recommend Bankers, Pacific Rubiales and Gran Tierra. All three of these companies have compelling valuations and strong management.
- In the mid to small-cap space we recommend Parex (outperform), we also like Shamaran for exposure to the Kurdistan oil play
The strongest performers next year will likely be Bankers Petroleum (BNK-T) with a target return of 151% over 2011 and PetroManas (PMI-T) with a 247% target return for 2011