Good to see they are upgrading their targets. When you consider the potential upside of ESG, there was no reason for them being so underated - it didnt make any sense at all.
I would suggest that the technical issues they are having were weighing a larger risk factor on ESGs success. Perhaps ESGs openess and confidence have helped some analysts lift their risk weighting on the stock (..at least from Credit Suisse).
If what DC is banging on about in his OB, anywhere near the truth, then $1.45 is still extremely cheap for ESG!!!! ESG must do everything they can to fight off any T/O offer prior to hitting their EOY 2P targets. If they dont, then their only chance of anything near fair value will be a bidding war.
Just some thoughts.
SF
rerating - interest again
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