2307 GMT -- Canaccord thinks private-equity firm Lone Star has low-balled its offer Sino Gas & Energy. The broker lifts its price target by 25% to A$0.30/share, well above Lone Star's A$0.25/share bid that has been accepted by the Sino Gas board. "Given the growth outlook for Chinese gas demand and other relevant transactions in the space, more value could be extracted," Canaccord says. It views a A$4.5 million break free agreed between Lone Star and Sino Gas as a very small barrier to any rival offer.
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SEH Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
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