daytrading august 2 afternoon, page-11

For anyone interested;

BROKER ALERTS ((1 x ERA, 2 x KAR)(Not many today as majority weren't that special)):

It was a solid result from ERA featuring a lower loss than expected, the broker notes, driven by lower costs. The company's new projects remain on time and budget and the broker is positive on the uranium price longer term, but ERA is currently too expensive.

Target rises to $1.45 from $1.35 but Underweight retained.

Target price is $1.45 Current Price is $1.48 Difference: minus $0.025 (current price is over target).
If ERA meets the JP Morgan target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in December. JP Morgan forecasts a full year FY13 dividend of 0.00 cents and EPS of minus 19.00 cents.

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.76.

Market Sentiment: 0.5

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Macquarie rates KAR as Outperform (1) -

Karoon has upgraded its Kangaroo resource by 85%. Risks still remain, the broker warns, with an appraisal drill the next step, but the upgrade means Kangaroo passes the threshold of commerciality.

Outperform and $9.00 target retained.

Target price is $9.00 Current Price is $5.67 Difference: $3.33
If KAR meets the Macquarie target it will return approximately 59% (excluding dividends, fees and charges).

The company's fiscal year ends in June. Macquarie forecasts a full year FY13 dividend of 0.00 cents and EPS of minus 5.50 cents.

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 103.09.

Market Sentiment: 0.7

UBS rates KAR as Buy (1) -

Karoon has announced an increase in gross 2C contingent resources for Kangaroo of 85%, to 135mmbbl from 73mmbbl. The 3C resource has increased by 44.5%, to 487mmbbl.

UBS finds the upgrade pleasing but considers the range of estimates still very wide. Proteus is the key catalyst in the near term as a positive drilling result should lead to accretive farm-out deals which would mitigate concerns about the company's funding position.

The Buy rating and $8.00 price target are unchanged.

Target price is $8.00 Current Price is $5.67 Difference: $2.33
If KAR meets the UBS target it will return approximately 41% (excluding dividends, fees and charges).

The company's fiscal year ends in June. UBS forecasts a full year FY13 dividend of 0.00 cents and EPS of minus 5.00 cents.

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 113.40.

Market Sentiment: 0.7