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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (45748)	6/27/2018 7:52:48 AM
From: Goose94	Read Replies (1) of 202446

Blackbird Energy (BBI-V) RBC analyst Luke Davis says Blackbird Energy sits "well positioned" for "material" production and reserve growth over the next several years. Mr. Davis cites "a series of improving test results across company acreage, differentiating partnerships within the services and midstream sectors, and a defined growth plan to roughly 12,000 [barrels of oil equivalent per day]." However, Mr. Davis point out that the company's primary development block in Alberta's Montney region "remains in the early innings with the potential for significant growth." Accordingly, he commenced coverage with a "sector perform" rating. Mr. Davis set a share target of 50 cents, which is 17 cents below the consensus. He says in a note: "Given a limited operating track record, financing risk, and ongoing macro head winds, we believe investors can afford to wait until these hurdles have been addressed or mitigated. Given BBI's scalable asset and proximity to significant industry activity ... we believe an eventual company sale is in the cards, though we have not factored any strategic value into our ... price target."

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