Delphi reported its year-end audited financial results that were generally in line with our thinking. Management has trimmed its 2016e guidance, resulting in a modest pull back to both capital spending and production figures. We have made minor tweaks to our forecast, leading to a downdraft to our projected 2017e cash flow. In light of our commodity price deck update (scheduled for next week) we have left both our Outperform ranking and $1.10 per share target price intact.
18 Mar 2016
Reports 2015 Year-End Financial Results, Trims Guidance
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Reports 2015 Year-End Financial Results, Trims Guidance
Delphi Energy (DEE:TSE) | 0 0 -1.1% | Mkt Cap: 167.0m
- Published:
18 Mar 2016 -
Author:
Michael Hearn -
Pages:
7
Delphi reported its year-end audited financial results that were generally in line with our thinking. Management has trimmed its 2016e guidance, resulting in a modest pull back to both capital spending and production figures. We have made minor tweaks to our forecast, leading to a downdraft to our projected 2017e cash flow. In light of our commodity price deck update (scheduled for next week) we have left both our Outperform ranking and $1.10 per share target price intact.