Translated with Google
Arctic sees 210 percent upside
By: Jørn Arnesen - StockLink.no
Published: 19/05/2010 6:45:05
Investment firm remains bullish for Questerre after Q1 report.
Investment firm remains bullish for Questerre after Q1 report. (Questerre Energy Corporation)
Arctic securities brokerage reiterates his buy recommendation on Questerre Energy Corporation (QEC) in a recent analysis.
Brokerage makes no change in price target after Q1 report, even if the numbers came in lower than expected. The turnover was 3.4 million Canadian dollar against the expected 3.5 million Canadian dollars, while EBIT came in at - 4.8 million Canadian dollars on brokerage house's estimate - 4.4 million Canadian dollars.
Arctic indicate that the company has strengthened its financial position sharply after the completion of the placement of 128 million kanandiske dollars, 166 million Canadian dollars in positive working capital and no debt at the end of Q1.
Brokerage hoping for positive results from the wells to be drilled ahead, and repeat his 12-month rate target of 55 kroner per share. Based on the last traded, NOK 17.70, this represents a tremendous upside to 210 percent.
Link: http://stocklink.no/Article.aspx?id=67474 (Norwegian)
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