Calyon downgrades REM to Add from from Buy and increases their tgt to $37 from $32. Firm sees a strong growth rate, margins and potential to repeat 2004's strong performance. However, they downgrade REM given the recent run-up in the stock price.
Could someone explain why REM is changed to ADD? Or even better what ADD is?
I believe they think you should add if the price dips but don't chase it as it is close to fairly priced. About the same with most e&p companies these days as bargains are hard to find. Good luck Birdog
How do analysts justify a price above sale of reserves value? REM has 252 BCFe and 27.8mm shares. Last sales that I have seen were at $1.90/mcf. Therefore, I believe that is around $18/share!!! I am interested in anyone's comments.