We have changed our recommendation on Faroe Petroleum from Top Pick to Outperform with a £1.00 per share target price. With an exceptionally strong balance sheet and the share price now discounting only US$55/bbl Brent, Faroe is a value name. However, as Pil leaves the centre stage, investors’ appetite for the shares is likely to be impacted by other factors; (1) the next exploration well in the Barents Sea is high risk; (2) even if we do not support the view, with now limited fur
04 Nov 2015
Value Stock
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Value Stock
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
04 Nov 2015 -
Author:
Stephane Foucaud -
Pages:
5
We have changed our recommendation on Faroe Petroleum from Top Pick to Outperform with a £1.00 per share target price. With an exceptionally strong balance sheet and the share price now discounting only US$55/bbl Brent, Faroe is a value name. However, as Pil leaves the centre stage, investors’ appetite for the shares is likely to be impacted by other factors; (1) the next exploration well in the Barents Sea is high risk; (2) even if we do not support the view, with now limited fur