From Globe & Mail this AMI don't think this was posted yet.
Raymond James’ Jeremy McCrea increased his target for Crew Energy Inc. (
) to $4.75 from $4.25, topping the $3.88 average, with an “outperform” rating.
“CR put out a rather impressive operations update, which unfortunately, given the timing on a busy 3Q reporting day, seemed to be missed by the market,” he said. “The importance of the ‘exploration’ Montney well results and clean-up disposition of its legacy heavy oil assets could be marked as the final milestone needed for the company to really begin attracting broad institutional interest. When combined with strengthening gas prices, a materially improved leverage position and among the highest growth rate in the E&P sector, there is increasingly a lot to like with Crew. We suspect that when Crew begins marketing its story post-3Q and investors begin looking for names that have yet to see their valuation run, we will begin to see interest build.”
GLTA SM