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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (69149)	10/17/2019 8:22:43 AM
From: Goose94	Read Replies (1) of 202214

ARC Resources (ARX-T) Canaccord Genuity analyst Anthony Petrucci says it is a "challenging" time for Canadian junior and intermediate energy companies. Mr. Petrucci has seen stocks in his coverage universe plummet by almost 30 per cent thus far in 2019. In a research report on Wednesday Mr. Petrucci was upbeat. He said in a note: "Post the bump following the drone bombings in Saudi Arabia, the fall in share prices has been particularly pronounced, as the oil price slipped back below $55/bbl. Why would anyone invest in this market? ... Quite simply, to generate potentially significant returns. As stock prices fall, and oil and gas prices remain relatively range-bound, the risk/reward profile is enhanced, in our view. The key to riding out the uncertainty is selecting companies with strong balance sheets, ample financial liquidity, and projects that can generate a return at these levels." Mr. Petrucci rates ARC Resources "buy." He says ARC is one of his top picks. He target the shares at $10, which matches the consensus. Mr. Petrucci notes ARC is trading near an all-time low.

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