BG.L, LINC.SI, OSH.AX, OII, OXC.TO,
Top Ideas for 2014
BG Group plc (BG.L)
Upgrade to Neutral from Underperform; TP cut to 1,115p from 1,200p; Credibility dented
28 January 2014, 15 pages sendspace.com
Pre-announcements are almost becoming a norm of late in the UK Energy sector, with BG's update yesterday further denting management credibility and the investment case of this 'growth' company. A number of issues raised yesterday should already have been known to management at the May or Sept 2013 updates, in our view. This raises the question (yet again) over the information flow within the organisation - from middle to senior management. We cut our EPS by ~10% for 2014E to $1.19 and ~13% for 2015E to $1.38.
Linc Energy Ltd (LINC.SI)
Clean energy story; INITIATING Coverage with an OUTPERFORM Rating and Target Price of S$2.14
D. Hewitt, 28 January 2014, 35 pages sendspace.com
Initiate with OUTPERFORM. We initiate coverage on Linc Energy (Linc) with an OUTPERFORM rating and a S$2.14 TP, implying 49% potential upside. Core value and growth in conventional oil and gas. Our DCF valuation for Linc's proved reserve oil production represents 80% of the current share price, but, in addition, the company has two potentially material projects in Alaska and Wyoming should they be sanctioned in the next 24 months.
Oil Search (OSH.AX / OSH AU)
PNG LNG first gas earlier than expected
28 January 2014 sendspace.com
Oceaneering Intl, Inc. (OII)
Under the Sea; Reducing Estimates & TP to $70
28 January 2014 sendspace.com
Oryx Petroleum (OXC.TO)
Banan Kicks; Pipeline in Focus
27 January 2014 sendspace.com
OT: Top Ideas for 2014
Credit Suisse Equity Research
January 28, 2014, 77 pages sendspace.com |
