Android app on Google Play

InterOil (IOC) Short Squeeze Watch Now in Effect

January 24, 2013 1:09 PM EST Send to a Friend
Get Alerts IOC Hot Sheet
Price: $57.28 --0%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade IOC Now!
Join SI Premium – FREE
InterOil (NYSE: IOC) made a significant announcement today regarding its Gulf LNG Project. Specifically, the company advised bidders that the final binding bid solicitation period for the partnering process will close in five weeks, on February 28, 2013.

"If the decision is straightforward – one bid is clearly superior to all others – then an announcement can be made very quickly," said analyst Pavel Molchanov of Raymond James. "If the decision is more complicated, then the board's deliberations would presumably take longer."

Molchanov thinks that the self-impose deadline is encouraging, because it signifies that management is comfortable with what's already on the table.

"There obviously remains plenty of market skepticism that the company will deliver a deal. Given this skepticism, short interest has ramped up, and we think the stock is setting up for a short squeeze once the partnership announcement comes out," stated Molchanov.

Raymond James has an Outperform rating on InterOil.

For an analyst ratings summary and ratings history on InterOil (NYSE: IOC) click here. For more ratings news on InterOil click here.

Shares of InterOil closed at $55.74 yesterday.




You May Also Be Interested In


Related Categories

Analyst Comments, Analyst EPS View, Trader Talk

Related Entities

Raymond James

Add Your Comment