TSX:SES - Post Discussion
Post by
2021Gamble on Jun 08, 2021 9:59am
Bradford "Strongly" recommends SES.t
Tue Jun 08 08:05:37 2021 EDT
Secure Energy Services Inc (TSX:SES)
Shares Issued 160,147,114
Last Close 6/7/2021 $4.95
Tuesday June 08 2021 - In the News
The Globe and Mail reports in its Tuesday edition that Raymond James analyst Andrew Bradford"strongly" recommends investors look at Secure Energy Services, pointing to a "favourable" combination of "operational/cash flow momentum, potential for upward consensus revisions, and fundamental value." The Globe's David Leeder writes in the Eye On Equities column that Mr. Bradfordcontinues rate Secure Energy "strong buy." He boosted his share target by $1.25 to $6.75. Analysts on average target the shares at $5.64. Mr. Bradford says in a note: "Secure's stock is up 14 per cent over the last four weeks, but based on our math, the stock is really only 10 per cent higher than where its implied price should have been immediately after the Tervita deal announcement.... We are raising our estimates, primarily based on a higher outlook for drilled and completed wells. Investors can remain confident in SES's free cash generation and in the durability of its near-maintenance-level capital budget: in simple terms, capacity utilization at its facilities is sufficiently low that expansion capital isn't required. We estimate Secure will convert 71 per cent of 2021 and 63 per cent of 2022 EBITDA into discretionary cash flow."
Be the first to comment on this post