comsec on psa, page-3

Another over optimistic valuation from a broker.
That's about 3 times the current SP.
Do they give a time target,eg, 5 to 10 years lol.
PSA certainly have a lot of permits in GOM but mostly very small and other companies just aren't interested in the size of them.
China drilling lately has been disappointing.
Whilst they have had a lot of success in GOM, their cash burn rate is high and seem to be getting nowhere fast.
Commsecs valuation of $3.57 will not come to fruition any time soon imo.
Unless of course they already know that the global economy is not slowing and they already know that moonshine,GOM and china drills will soon be gushing with oil.
Read a similar report/valuation the other day from another broker that had ROC valued at nearly double current sp.
One has to look into the motives of some of these brokers and their super optimistic valuations,especially in the current climate.