RE:RE:cibc analyst neutral, target C$12, heartland now $4 billionA 15% cost overrun on a project only 60-70% to completioon is a compete disaster by any measure, demostrating incompetence on a grand scale.
Just wait till commisiioning. This thing will be a multi BN overrun by the time its operating at 60% LOL.
Happens everytime on projects with govt subsidies and credits - welfare state projects never end well.
Must be the high performance AB pension fund that drove this dog up today - good money after bad as if losing BNs in the day of alos was not enough haha..
This is a $2 stock on management performance and risk profile thats just shot through the roof on Heartland.
JohnFriesen wrote: Sadly, it was a krappy report.
Payout ratio was way too high, as their numbers are going to be much worse for the rest of the year.
And a $500 MIILION increase in the cost of Heartland? That is ugly, no other way to say it.
I have been a HUGE fan of IPL, but just like ALA f c k e d thier shareholders with a moronic acquisition, it looks like IPL may have made a similar mistake.
Still a pretty good company, but is it worth $10? Not sure anymore.