Macquarie rates MPO as Outperform Nov 02, 2010
Production and revenues in the September quarter were lower than the broker had expected and it has cut its earnings estimates as a result. There is no price target impact from the changes.
The company will drill wells and bring them into production in coming months and the broker sees this period as crucial for the group. Outperform rating retained on valuation grounds. Target price is $1.60 Current Price is $1.01 Difference: $0.585
If MPO meets the Macquarie target it will return approximately 58% (excluding dividends, fees and charges). The company's fiscal year ends in June. Macquarie forecasts a full year FY11 dividend of 0.00 cents and EPS of 2.90 cents. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.00
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Macquarie rates MPO as Outperform Nov 02, 2010Production and...
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