Strathcona Resources Ltd SCR

Primary Symbol: T.SCR Alternate Symbol(s): STHRF

Energy Oil & Gas E&P

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties. It is a producer in the Cold Lake region of Alberta. Its operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from SAGD oil assets. Its Montney development is positioned in some of the active regions in the Montney basin, the condensate-rich Kakwa, Grande Prairie, and Groundbirch regions, and produces liquids-rich gas.

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Strathcona Resources Ltd

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Post by challenger426on Jun 22, 2021 3:29pm

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Post# 33428432

SCR US$50 target by Credit Suisse today

Score Media and Gaming Kept at Outperform by Credit Suisse as Canada Readies to Legalize Single-Game Sports Betting

22 Jun 202111:19 ET

11:19 AM EDT, 06/22/2021 (MT Newswires) -- Credit Suisse on Tuesday reiterated its outperform rating on the shares of Score Media and Gaming (SCR.TO) with a US$50.00 target price as Canada readies to legalize single-game sports betting, arguing that the company is likely to be a leader in that market.
"Today, bill C-218 will be voted on in the Senate, which would legalize single-game sports betting in Canada," the investment bank said in a note " ... The positive momentum in the legislation has led to a rally in SCR shares, which are up 75%+ since last month. In spite of this move, we still think there is sufficient room for upside - at ~$22.50 a share (price at close), SCR is still trading at just 1.5x our 2026 sales estimate. For context, DKNG trades at ~6x street '25 sales, and ~5x '26 sales. Bottom line, we believe that SCR is positioned to be a market leader in Canada, as we estimate ~20% of Canadian sports fans are SCR users. At ~$22.50 we think that essentially implies zero value for the US (where SCR is live), zero value for any provinces outside of Ontario, and ~7.5% share of Ontario (vs the 20%+ OSB/10% iGaming share we think they eventually garner)."

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