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InterOil Corporation Message Board

  • itwillgoup itwillgoup Jul 11, 2013 1:43 PM Flag

    Raymond James reiterates 100 dollar target

    Raymond James analyst Pavel Molchanov reiterated an Outperform rating and $100 price target on InterOil (NYSE: IOC) after the company named Michael Hession CEO today.

    The analyst the new CEO brings LNG and regional experience. Hession is wasting no time making his mark, Molchanov said. Today he confirmed that the company is committed to pursuing a stand-alone LNG project following the completion of ongoing resource sell-down negotiations with Exxon. "In other words, Hession's immediate priority is to finalize the Exxon transaction, and then he can turn his attention to long-term strategy," the analyst interprets the comments.

    "While Hession's hiring was not necessary for the Exxon transaction to be finalized, we think it can help speed things along," Molchanov notes. "While Hession and the rest of the management team are - wisely - not making specific promises about timing for the deal announcement, we believe that essentially all of the key terms have already been agreed by the two sides, leaving the proverbial "paperwork" and other minor provisions left to be finalized."

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    • Raymond James believes Exxon deal within sight. While Hession’s hiring was not necessary for the

      Exxon transaction to be finalized, we think it can help speed things along. While Hession

      and the rest of the management team are – wisely – not making specific promises about

      timing for the deal announcement, we believe that essentially all of the key terms have

      already been agreed by the two sides, leaving the proverbial “paperwork” and other minor

      provisions left to be finalized. Our assumptions about the deal terms are based on our

      conversations with InterOil's management over the past six weeks, along with public

      comments made at an Australian conference in late May by Mark Nolan, an Exxon vice

      president. It goes without saying that Exxon transaction is the most important

      upcoming catalyst for the stock. What we would underscore in this context is that IOC

      shares are trading at approximately $0.70/Mcf on a proved basis, with the five-year

      average transaction multiple in the region near $1.25/Mcf. In our view, there remains

      significant upside in the stock based on the fundamentals of the resource base, and a

      quality hire at the top only strengthens our conviction --- $100 target

    • It's only a matter of time.

      Sentiment: Strong Buy

    • I bet they did the same on Enron and Sino-Forest! ha ha. Know they don't cover those two but they did do 2 debenture deals FOR THEIR CLIENT, InterOil. You think they're objective? ROFLMAO!!!!!!!!!!!!!!!!

      Sentiment: Strong Sell

 
IOC
58.60-0.61(-1.03%)Nov 26 4:02 PMEST

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