RE:Are we expecting a pullback after this recent pop?The best time to have bought recently was sub-5. I highly doubt we'll see it go back there. Fully diluted EPS for 3 quarters is about 0.75 so anything under $7 is a good buy based on a simple 10x P/E given the very healthy nature of the balance sheet. Q4 will add another .30-.35 EPS for a fully diluted total of over $1 on the year. Outstanding. I can only expect that in 2014 MCR will continue its scorching earnings growth.
Keystone is a symbolic catalyst for the pipeline/oil-sands sector but over-emphasized. Even if the U.S. doesn't proceed there is much more going on. The $2 billion announcement by Pembina is huge, you can bet Macro wil be bidding and winning on some big projects wih them, they are already one of our clients. Interpipeline is another that has committed billions to their pipeline infrastructure over the next decade.
A buyout would be OK but I'd rather see Macro grow before that happens. If the LNG game really ramps up this year I don't think Rock's $20 estimate is unrealistic. All things considered we are looking at an easy double at least for 2014.