up 47c in 5 days, page-13

GoGunners,

Macquarie have increased their price target from $4.40 to $5 per share (about a week or 2 ago). I could be mistaken, however, Goldman Sachs also has a very bullish view on BLY.

Looking forward, the demand for drilling services continues to rebound strongly. As I mentioned, margins will continue to improve strongly based upon higher metal prices, and the commitment of BHP and RIO significantly increasing their capex overt he next 12 months.

On top of that, you have a company with virtually no debt, recently re-introducing their dividend, and other 'like' companies reporting strong improvement in demand.

These engineering companies exposed to the resources sector tend to be later cycle outperformers. We saw commodity prices begin to rebound last year, and continue to be strong this year. Resource companies have the confidence to begin increasing capex on the back of this, which filters through to the likes of BLY.

I'm not here to provide advice, however, it never hurts to take some profit - particularly if your are heavily loaded in the stock. Take a bit off the table and let the rest ride for a little longer.