The flagship Zhao Dong continues to produce solidly in the broker's opinion. JP Morgan's net present value is 65c a share and this implies 35% upside, despite the stock outperforming the market in recent months.
The Overweight rating is maintained and the price target is reduced to 65c from 66c.
Target price is $0.65 Current Price is $0.48 Difference:$0.17 - (brackets indicate current price is over target). If ROC meets the JP Morgan target it will return approximately 35% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in December.
JP Morgan forecasts a full year FY13 dividend of 0.00 cents and EPS of 4.85 cents .
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.91.
FN Arena
Market sentiment: 0.8 Company: ROC OIL COMPANY LIMITED
ROC Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)