We have put through some updates to our Faroe model, increasing risked NAV from 104.4p/share to 125.6p/share. We have used our model to examine the funding of Faroe’s upcoming developments, showing that it could potentially fund these from existing facilities. We believe that ongoing progress of these projects will drive the shares up, and maintain our Buy recommendation, setting a 125p price target.
18 Sep 2017
Model update and funding analysis
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Model update and funding analysis
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
18 Sep 2017 -
Author:
Ian Berry -
Pages:
12
We have put through some updates to our Faroe model, increasing risked NAV from 104.4p/share to 125.6p/share. We have used our model to examine the funding of Faroe’s upcoming developments, showing that it could potentially fund these from existing facilities. We believe that ongoing progress of these projects will drive the shares up, and maintain our Buy recommendation, setting a 125p price target.