TSXV:RPL - Post Discussion
Post by
lscfa on Apr 09, 2014 4:37pm
SPE target is $4.50
The Globe and Mail reports in its Friday, April 4, edition that Clarus Securities analyst Daniel Choi has commenced new coverage on Spartan Energy ($3.53), rating it "buy." The Globe's Darcy Keith, Jody White and Eric Atkins write in the Eye On Equities column that Mr. Choi targets Spartan Energy shares at $4.50. Thomson Reuters says the average Street target on the shares is $4.22. Mr. Choi has high hopes for the Calgary-based producer. He says, "With a better than average balance sheet, low capital costs and low declines, we find Spartan's low volatility, high growth potential hard to match." Mr. Choi also notes that in an environment where both big and small producers are looking to dispose of assets, Spartan's ability to make acquisitions opens the door to up to 50-per-cent production growth based on M&A.
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