The Hardy share price has fallen over the last three months on the relinquishment of D3 in December and the exclusion of the company from the FTSE All Share and Small Cap indices. D3 was an important asset but we feel at current levels that the price fall is overdone. As such we are upgrading from Neutral to Add based on our valuation of the assets, the US$22.9m cash pile that underpins the company plus the potential for positive news of progress on any of the three assets Hardy continues to
11 Mar 2015
Price fall overdone
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Price fall overdone
The Hardy share price has fallen over the last three months on the relinquishment of D3 in December and the exclusion of the company from the FTSE All Share and Small Cap indices. D3 was an important asset but we feel at current levels that the price fall is overdone. As such we are upgrading from Neutral to Add based on our valuation of the assets, the US$22.9m cash pile that underpins the company plus the potential for positive news of progress on any of the three assets Hardy continues to