Market Impact: Arguably slightly positive as we think this news increases the odds that Suncor's offer gets approved by COS's shareholders. We are reducing our target price to fall in line with Suncor's 0.25 share exchange ratio offer. Relative to our Suncor target price of $39.00/share, this equates to a COS target price of $9.75/share, although based on Suncor's closing price Tuesday, the 0.25 ratio implies $8.74/share for COS.
08 Dec 2015
CANADIAN OIL SANDS LIMITED (COS) - UNPLANNED WINTER TURNAROUND FOR COKER 8-2
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CANADIAN OIL SANDS LIMITED (COS) - UNPLANNED WINTER TURNAROUND FOR COKER 8-2
- Published:
08 Dec 2015 -
Author:
Michael P. Dunn -
Pages:
3
Market Impact: Arguably slightly positive as we think this news increases the odds that Suncor's offer gets approved by COS's shareholders. We are reducing our target price to fall in line with Suncor's 0.25 share exchange ratio offer. Relative to our Suncor target price of $39.00/share, this equates to a COS target price of $9.75/share, although based on Suncor's closing price Tuesday, the 0.25 ratio implies $8.74/share for COS.