I can see why you can’t have individual analysts at the same shop running wild with their own takes on commodity prices, so they have to reply on an ‘independent’ party. But that doesn’t excuse the dumb takes in the narrative.
Canaccord had this at a PT $5.50 sell back in March, so it goes to show that it’s possible to outline clear downside risk even if you’re hamstrung by the actual assumptions you must include in your report.
Looking for the bottom, page-89
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