Just another Broker upgrade.... make of it what you will.
At their target of 214 its now a "bargain"?
OR are they looking for buyers...lol
HARDMAN RESOURCES
Broker: UBS
Rating: Upgrades to BUY 2 from NEUTRAL 2
Price: Raises to $2.14 from $2.06
Comment: UBS has upgraded its call on Hardman Resources to "buy 2" from "neutral 2" following the March quarter production update. "We continue to believe the upcoming 7-9 well Mauritania exploration program has excellent upside and in our view is expected to form a future catalyst, along with Chinguetti start-up in the first quarter of 2006, for a potential positive future Hardman share price reweighting," it says. Hardman has a 19 per cent interest in the Chinguetti oil field, which is now expected to start earlier than expected, during the first quarter of 2006. "Positive revisions on Chinguetti reservoir quality and hydrocarbon column also imply a proved reserves upgrade is possible," UBS added, upgrading its earnings per share targets by nearly 14 per cent in fiscal 2006 and by 5 per cent in 2007.
HDR
hardman resources limited
