Akita Drilling Ltd. Price Target Raised to C$3.75/Share I haven't post on this board because there was nothing to say about Akita.
I still hold my 97600 shares(Who cares).In such a slow drilling market, i was expecting a small loss yesterday just like Ensign.
EPS of 7 cents is not the end of the world but for them to make a small profit in such a tough market is for me a good sign.
Will i was early in building my position , i still believe that Akita will reward me by being patient.
I still think that it's a 2025 story and i could see my investment doubling and more.
For now, it could be dead money but for the long term ,i am a believer...
But for that to happen, we will need better activity in the sector.
If they can reduce their debt at their 50 million target, that to could be a catalyst.
The double capital structure should be abolish but i don't expect that to happen.
PD, ESI and Akita management comments seems to be positive for stronger activity in H2.
That we shall see.Only time will tell.
But if this come to fruition then these drillers will see their share price appreciate quite a bit.
ATB Capital raised their target price this morning to $3.75 on Akita