We have updated our estimates for the recently closed equity financing, our current price deck and 2Q15e realized commodity prices. Although dilution from the financing partially offset positive estimate revisions due to our commodity price update on June 25, we believe the Company is likely to make more near-term accretive acquisitions. As a result, we have reinstated our target price of $31.00/share and Market Perform ranking.

08 Jul 2015
Update Post Equity Financing

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Update Post Equity Financing
PrairieSky Royalty Ltd (PSK:TSE) | 0 0 0.0% | Mkt Cap: 6,860m
- Published:
08 Jul 2015 -
Author:
Michael P. Dunn -
Pages:
9 -
We have updated our estimates for the recently closed equity financing, our current price deck and 2Q15e realized commodity prices. Although dilution from the financing partially offset positive estimate revisions due to our commodity price update on June 25, we believe the Company is likely to make more near-term accretive acquisitions. As a result, we have reinstated our target price of $31.00/share and Market Perform ranking.