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mac recommendation HDR - Macquarie rates the stock as Outperform View Archive

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The broker notes the dispute in Mauritania adds to the political risk of the operations, but the company has suggested the downside is limited to about 4% of the Chinguetti valuation or US$20m.
The broker has not changed its earnings forecasts, but suggests the increased risk brings into question the desirability of making further capital investments in the region.

Valuation is $1.95.

Target price is $2.53 Current Price is $1.83 Difference:$0.70 - (brackets indicate current price is over target). If HDR meets the Macquarie target it will return approximately 38% (excluding dividends, fees and charges - negative figures indicate an expected loss).