Novus Energy Inc NOVUF

RE:RE:TD downgrades from a buy to a hold

[Marlbank]

I think, Counterintuitive, that TD's downgrade is a case of a sentiment I expressed earlier - that we all see what we want to see. If you are long, you see a company in exclusive negotiations, that was able to reduce debt faster than production declined when it needed to, that bounced back with a drilling vengeance after an indecisive quarter, and should see major production gains in the 3rd/4th quarters.
TD, because it must err on the side of caution, sees a company with just 15% upside, a company always playing catch-up on production and a company that has had some difficulty selling itself. By playing it safe now, TD wins either way. Those of us with skin in the game, must continue the agonizing wait until the bean coounters determine an exact price, with the floor at $1.00.