More9 Dec 2011 18:08
Analysts had mixed views about the company's NAV revision.
At current carbon prices, the company's NAV should be around 26p per share, said Gus Hochschild, an alternative energy equity analyst at Mirabaud Securities LLP. "Whilst most equity valuations have slumped, it appears that management have succeeded in growing this portfolio by 61 percent," he said in a research note.
Analysts at brokerage Peel Hunt revised their recommendation for Trading Emissions to "buy" from "hold" while keeping their target price at 38p. Even if carbon prices fell to zero the company's NAV would be 28p per share, they said, but added: "We do not anticipate an improvement in the carbon market, which remains an unpleasant place to be." ($1 = 0.6398 British pounds) (Additional reporting by Jeff Coelho; Editing by Paul Hoskins and David Holmes)
http://uk.finance.yahoo.com/news/UPDATE-2-Trading-Emissions-targetukfocus-3869790274.html?x=0&.v=1