Bankers Petroleum Ltd. is down 4% on Monday morning after Friday’s violent protests against the Albanian government.
The protests, which left three dead, has raised concern that Bankers, which explores for and develops and produces oil in the eastern European country, will be negatively impacted by the unrest.
Alex Klein, an analyst at Dundee Capital Markets, believes the protests represent only a short-term aggravation for the stock and ultimately provides investors a buying opportunity.
“We have no information at this time to suggest that any of the protests have impacted Bankers operations in any way,” Mr. Klein said in a note to clients. “However, we expect the stock may come under selling pressure given the political unrest.”
While the outcome of the protests in unpredictable, Mr. Klein said the impact on Bankers’ operations will be muted, and noted Monday’s sell-off could be used as an opportunity to add positions.
“But we would pick our timing very carefully,” he said, maintaining his Buy recommendation and $10.50 price target.