InterOil (IOC) Q1 'Uneventful', But Shares Poised to Move Higher - Raymond James

May 14, 2013 12:30 PM EDT Send to a Friend
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Price: $53.41 +5.26%

Rating Summary:
    8 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 14 | New: 40
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Raymond James analyst Pavel Molchanov reiterated his Outperform rating and $100 price target on InterOil (NYSE: IOC) Tuesday even though he called Q1 "uneventful."

Molchanov said investors should focus on the long-term cash flow potential and the multiple upcoming catalysts.

"Our positive stance on InterOil is predicated on its long-term cash flow potential and the expectation of impactful catalysts," Molchanov states. "This is balanced by the operational, cost, timing, and political/regulatory risks as the upstream assets and processing infrastructure (LNG and condensate) are developed. We see multiple near-term catalysts, including an LNG partnership (incorporating a resource selldown) with an international company, followed by the final investment decision, although as usual we would caution against having rigid timing expectations."

For an analyst ratings summary and ratings history on InterOil click here. For more ratings news on InterOil click here.

Shares of InterOil closed at $77.93 yesterday.


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