RE:RE:TD ReportSugaree wrote:
Analysts are useless and a waste of space with their out of touch price targets. Nuvista has a long way to go before it reaches true valuation. $2.50 a year out is a joke of a prediction, try maybe $5.00.
I quite agree . my only reason for reposting was to show how inane the target was , I fully expected NVA would pass 2.50 yesterday based on the promissing WTI news concerning Ras Tanura earlier in the day.
Nevertheless , with the Stimuus Package likely to be passed this week, it shouldn't be very long before WTI resumes its upward trajectory.
Posters on other boards cite the fact that Bidens admin have released 10 million barrels from the strategic reserves. That number completely pales versus the additional 1 billion barrels of consumption that the stimulus package will ultimately lead to. (based on 1900 USD of economic activity = i Bbl of crude consumption )
For comparison purposes the total SPR volume is 1.22 billion barrels.