RE:Joseph Schachter's table is taking a poundingNotgnu wrote: 2017-06-12 TOP PICK Josef Schachter
They did $18.6 million EBITDA in the 1st quarter. They’re involved in contract drilling in Canada and the US, with 51 rigs in Canada and 5 in the US. They have 66 well servicing rigs. Under $2, this is a Buy, but under $1.90, it is a table pounding buy. He has a one-year target of $4.80. (Analysts’ price target is $3.50.)
https://www.bnn.ca/market-call-tonight/josef-schachter-s-top-picks~1144988 Yes, it has been incredibly beaten up in the five weeks since he made it a top pick.
With WRG's results being released on the 26th, the conference call on the 27th, and Joseph appearing on Market Call again on the 28th, I'm sure he will have lots to say about it.
Personally, a bounce by next Friday, so I started buying at 1.38 today. If it just gets back to where Joseph made it a top pick in June, that would be 47% upside from here. I'd be happy with 1/3 of that a week from now.
This isn't a sector move or a reaction to the price of oil. Trican is up about 15% in the same five weeks. Trican lost 25c/sh in Q1 and they are heading up into their Q2 release. WRG lost 6c/sh and they are crashing like nobody's business.
Joseph said the book value was $5.45. Very good debt to equity ratio. Maybe there will be some surprise reported, but I'm personally loving it here and hoping to add more lower on Monday and Tuesday.
Obviously I'm assuming it is a manipulation game the big boys are running, just trying to panic some of the retail longs into dumping right before the earnings are released.
PS, I bet Eric is buying as well. We'll find out in August.