Post restriction following our participation in Tourmaline’s $280.6 mm financing, issuing 10.350 mm shares at $27.11/share, and complemented by an insider take-up over above the bought deal, we update our forecast with no significant moves to volume growth projections or revenue/cost input assumptions. There are no changes to our 12-month target price of $42.50/share or Outperform ranking. We would invest in this management team at current price levels and continue to recommend accumulating shar ....
06 Apr 2016
Closes $282 mm Equity Financing
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Closes $282 mm Equity Financing
Tourmaline Oil Corp. (TOU:TSE) | 0 0 2.9% | Mkt Cap: 5,137m
- Published:
06 Apr 2016 -
Author:
Robert Fitzmartyn -
Pages:
4
Post restriction following our participation in Tourmaline’s $280.6 mm financing, issuing 10.350 mm shares at $27.11/share, and complemented by an insider take-up over above the bought deal, we update our forecast with no significant moves to volume growth projections or revenue/cost input assumptions. There are no changes to our 12-month target price of $42.50/share or Outperform ranking. We would invest in this management team at current price levels and continue to recommend accumulating shar ....