Following Cairn’s H1 results and call, we have updated our model to reflect the higher resource estimates, and as such, increase our RENAV (and PT which is set at RENAV) from 225p to 242p. We continue to believe that Cairn remains one of the more undervalued E&Ps, and with quality assets, and catalysts. We also believe that if it remains undervalued for long, industry could potentially step in and frank a higher value. News flow will be a bit lighter in the coming months (a few expl
22 Aug 2017
increase RENAV by 7%
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increase RENAV by 7%
Capricorn Energy PLC (CNE:LON) | 176 0 0.0% | Mkt Cap: 161.6m
- Published:
22 Aug 2017 -
Author:
Jessica Saadat -
Pages:
10
Following Cairn’s H1 results and call, we have updated our model to reflect the higher resource estimates, and as such, increase our RENAV (and PT which is set at RENAV) from 225p to 242p. We continue to believe that Cairn remains one of the more undervalued E&Ps, and with quality assets, and catalysts. We also believe that if it remains undervalued for long, industry could potentially step in and frank a higher value. News flow will be a bit lighter in the coming months (a few expl