SDE comment from analyst
I haven't heard an analyst say that a company's presentation was 'refreshing' - especially after some of the comments yesterday which intimated that SDE managers didn't seem to know if up was down, or whatever they thought they were doing.
Take these comments for what they are.... and happy investing!
Comments/critique welcome.
Desjardins Securities’ Chris MacCulloch bumped his Spartan Delta Corp. (SDE-T) target to $21 from $19 with a “buy” rating, while BMO’s Mike Murphy also raised his target to $21 from $19 with an “outperform” rating. The average is $21.04.
“[Wednesday] morning, Spartan Delta announced the initiation of a strategic repositioning process to enhance shareholder value,” Mr. MacCulloch said. “Although the process may go in several directions, in our view it was refreshing to see a Canadian producer adopt a pragmatic approach to creating shareholder wealth given the stock continues to trade at a material discount vs peers. Meanwhile, we have bumped our target to $21 (from $19), reflecting positive estimate revisions stemming from the 2023 guidance release.”