Edg looks very positive29 Feb 2016 16:06
EDG .. Nice chunky buys in EDG picking up
Edge Resources* (LON:EDG/CVE:EDE) current market could provide opportunity to grow,potential increase of OVER 1000%
By AIM company search
Feb 24, 2016 5:58:43 AM PST | No Comment(s) - Post a Comment
The importance of cost control over the Company's operations, and that the actions taken in advance of what has been a precipitous decline in local oil prices, which has been underlined by the net positive cash flow for the quarter.
The management team have demonstrated that they can maintain cost control in difficult circumstances, and we believe that such discipline is what is required to unlock value .
Provided any potential transaction costs and structure is completed in a manner that allows for the retention of the maximum amount of cash within the Company, we believe that the current market could provide opportunity to grow. This will be further boosted by the derisking of the future financing risks posed by the shareholder loan, which we have falling due in FY 2017.
According to an update released by analysts at SP Angel the broker has now set a ‘Buy’ rating on shares of Edge Resources (LON:EDG) with a price target of 4.5.
SP Angel on Tuesday reiterated Edge Resources’s analyst rating as ‘Buy’ with its price target of 4.5 highlighting a potential increase of OVER 1000% from Edge Resources’s current price of 0.45.