Trinity released its FY17 update this morning, ahead of its FY results in May. We have made only minor tweaks to our model, which increases our RENAV (and PT) from 32p to 33p. We continue to think Trinity’s share price is trading at an unwarranted discount to its fundamental value, and remain with our BUY given solid operating results and potential 2018 catalysts including removal of the CLN overhang and further clarity on the potential value in Trinity’s offshore acreage.
06 Mar 2018
FY17 update
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FY17 update
Trinity Exploration & Production Plc (TRIN:LON) | 40.0 0 0.0% | Mkt Cap: 15.5m
- Published:
06 Mar 2018 -
Author:
Jessica Saadat -
Pages:
6
Trinity released its FY17 update this morning, ahead of its FY results in May. We have made only minor tweaks to our model, which increases our RENAV (and PT) from 32p to 33p. We continue to think Trinity’s share price is trading at an unwarranted discount to its fundamental value, and remain with our BUY given solid operating results and potential 2018 catalysts including removal of the CLN overhang and further clarity on the potential value in Trinity’s offshore acreage.