OTCPK:PDPYF - Post by User
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Ridgebackon Sep 15, 2020 8:38am
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RE:signed sealed delivered
RE:signed sealed deliveredThe Globe and Mail reports in its Tuesday, Sept. 15, edition that ATB Capital Markets analyst Patrick J. O'Rourke moved his rating for Painted Pony Energy to "tender" from "underperform" in response to its agreement to be acquired by Canadian Natural Resources.
The Globe's David Leeder writes in the Eye On Equities column that Mr. O'Rourke's share target rose to 69 cents, matching the purchase price, from 35 cents. Analysts on average target the shares at 64 cents. Mr. O'Rourke says in a note: "Overall, we view PONY's Q2 results as having limited relevance given the proposed sale already in place, though the quarter does speak to the challenges faced by the business (and industry in general) in Q2/20. We anticipate a successful shareholder vote and see minimal counter party risk to the proposed acquisition closing.
" The Globe reported on March 11, 2019, that Desjardins analyst Chris MacCulloch reiterated his "hold" rating. Painted Pony shares could then be had for $1.74. The Globe reported on Oct. 3, 2019, that National Bank Financial analyst Travis Wood had upgraded Painted Pony to "sector perform" from "underperform," while continuing to target the shares at 75 cents. The shares were then worth 63.5 cents.