Morgan Stanley have maintained their overweight recommendation on Sxy & increased their price target from .80c to .87c. They discounted quite a few of SXY's assets to arrive at this figure.
further into their report it states their base case of .97c is arrived at by:
LT Brent oil US$90/bbl. Production guidance being met.
no 2P growth assumed. 3p oil risked at 50%, the same for Hornet gas project & token value for their CSG & unconventional gas resource.
One would think this is a fairly conservative outlook.
They do have a Bull case value of $1.42.
GLTA
morgan stanley upgrade
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