Why did I increase my longer term target1. We are further away from the worry about losing a CEO and the sell off and change of ownership after the dividend cut.
2. The ship is righting - no negative surprises.
3. We are closer to announcements on asset sales and closer to Ridley shipping propane
4. The new CEO has introduced a new value/efficiency metric to challenge employees.
5. There is more focus on getting accelerated rates.
6. I want to be ahead of the slow moving analysts who are still in the show me mode.
7. I liked the articulateness and vision of the new CEO and his description of new projects and growth prospects.
8. The stock is not nearly where it shoudl be yet if there were full confidence - look at book value to price vs other comparables.
9. I am a long term investor and generally try to figure out reasonable levels two years out.
10. The CEO indicated they could pick and choose their asset sales and still meet their target and perhaps beat it - first inklng of what interest is out there.
11. I did an analysis of propane export value to the company.
12. I think the interest rate is not going to push the stock price down
13. I believe a numbe rof larger investment houses will start to position now around buying 1/3 positions.
14. I was surprised by the high short interest as of mid Feb.
So my reasons are all slightly longer term. I don't care about a few cents up and down for short term trading. I use option rolls for that small part of my position. Two years. high 20's now almost certainly. Next week who knows 16.95. 1780 18.20