Eric Nuttall on Market Call today - from BNN website on BTE
Eric last bought on Dec 1 at 3.74$.... Oops... though I may not purchase as much shares as him,
ha ha, my average cost is lower than him....Also, his thought on fair value @5.75 at 70 US$ WTI and @7.35 at 80 US$ is good to hear because he later also added that he believe WTI will go back to 80 US$ in next year.
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BTE : Last bought on December 1st at $3.74
Baytex will have free cash flow more than their market capitalization over the next five years at US$65 WTI and trades at 2.8x EV/CF and a 28 per cent free cash flow yield at US$70 WTI. Having drilled the two best wells in the Clearwater play, the most economic oil play in North America, Baytex’s asset quality is misunderstood as people still think of it as an overleveraged heavy oil producer. We think fair value is close to $5.75/share at US$70 WTI and $7.35 at US$80 WTI, representing 61 per cent/109 per cent potential upside.