BA-Merrill Lynch rates KAR as Buy - Some bad luck with Kontiki drilling sees the broker lower its success case risking to 5% from 15% and lower the potential size of Kontiki to 2Tcf from 6Tcf.
The broker has also lowered our chance of success for Grace to 10% from 15% due to some interdependence between the two targets.
The good news is: none of this has anything to do anything with Poseidon, which is where the broker thinks the money is right now, so the Buy call is maintained, but the price target drops to $9.07 (from $11.84).
buy it!, page-6
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Last
$1.81 |
Change
0.005(0.28%) |
Mkt cap ! $1.450B | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.84 | $1.78 | $8.370M | 4.605M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 32319 | $1.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.82 | 28653 | 3 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| KAR (ASX) Chart |