Yes - Charlie has commentedNo - he is not scratching his head.He...

Yes - Charlie has commented
No - he is not scratching his head.
He says that WPL is a screaming buy with a LT target price of $57 based on fundamentals just as he has said for a few months - $57 does not reflect a T/O price.
There is a lot of misinformed comment on this thread made by people who obviously dont subscribe to his newsletter or have read 1st hand what he has said.
He rates WPL value at $57 based on NWS + Pluto + heavily discounted valuations for Pluto 2, Sunrise etc, + higher medium / long term oil & LNG prices than analyst currently use.
He believes that BHP SHOULD takeover WPL (SHOULD) and has explained extensively why they SHOULD. He never said "BHP will or are". Added to this SHOULD opinion he has picked up on unusual trading activity and info emanating from the UK a few weeks ago which raises the spectre of corporate activity occuring behind the scenes. Really you could argue that he has been proven right to a degree with trading earlier this week.
It is important to understand Charlie's recommendation terminology just as it is important to understand that BHP's statement to the ASX is not a denial of interest in WPL (their advisors may be up to their ears in discussions with Shell - but not at Board level - just as Shell's statement that they are not in commercial discussions with BHP - this does not preclude them or their advisors from being in discussions generally without regard to price "commercial")
Why didnt BHP just come out and say "we are not currently interested in acquiring WPL" as apparently they have done in seperate email to Barnett according to Barnett.
Yes I am a fan of Charlie
Yes I am a fan of WPL
I have no idea whether BHP are looking at WPL but perhaps they SHOULD be???