Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

NYSE:PTA - Post by User

Cohen & Steers Tax-Adv Pref Secs and Inc Fund > TD

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Comment by maramos98on Apr 29, 2014 9:14pm

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Post# 22505060

RE:RE:TD

Justification of Target Price
Our C$0.45 target price for Petroamerica is based on a combination of 0.95x Base and 0.90x Upside to Base NAVPS. A multiple of 0.95x Base NAVPS is normal. However, our 0.90x Upside to Base NAVPS is above the average multiple that we use for our coverage of International E&Ps because of what we see as relatively strong management, finances, and near-term free cash flow generation potential. We currently use a range of 0.40x–0.95x in terms of our multiples of Upside to Base NAVPS.

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