RE: tdw lowers target It's interesting that the analyst states that the long term prospects for DP are good, that the Thurso Mill will be positioned as a low cost supplier and that when the co-generation facility comes on-line in 2012, it will reduce the cost to produce DP by a significant $100 metric/ tonne.
Most analyst are factoring that the Thurso Mill asset alone is worth between $30 to $36 / share when it at full capacity.
I understand the need to be conservative, but this analyst essentially has not factored in the value of the Lanquart and Dresdan Mill?
When the first quarter results are released, it will be the barometer if FTP will have a successful year.
He indeed has protected himself quite nicely.
It appears his performance review is only a few weeks way...
The fact that FTP has not made another DP acquisition in 2011 has rightfully created doubts... which then translate into the statement "management’s arguably ambitious cost objectives"