Tennyson Equity Research buy rating I3energy - ITE.TOJust going to leave this here - I3energy BUY Rating
Buy rating by Tennyson equity research(February 11th 2022)- page 7 of report estimates a 30.5pence(1pence =1.75c CDN) based on $90oil. I was informed their target price based on $100oil would be around 74c CDN(current price is 35c CDN)
“i3(ITE.TO) continues to benefit from the strong and still rising commodity prices (see Figure 2). Following a correction during Q4 last year (sparked by the arrival of the Omicron variant) the benchmark Alberta gas price has recovered sharply, with the winter 2022/23 contract now trading in the region of US$3.5-4/mcf – comfortably above our long-term forecast of US$2.65/mcf. Similarly, after the Omicron blip, oil prices have bounced back even stronger, with Brent trading above US$90/bbl.(Been over $110/bbl for a while now)i3’s hedging policy protects the dividend and near-term capital commitments, but hedged volumes still only account for c.35% of near term production, leaving i3 strongly exposed to rising prices.”
***NOTE the report is in pence and British pounds - 1 pence = 1.75c CDN***
https://wp-i3energy-2021.s3.eu-west-2.amazonaws.com/media/2022/02/220211_i3E-From-strength-to-strength-1.pdf