UPDATE - Global Hunter Securities Upgrades TransAtlantic Petroleum (TAT) from Buy; Charting a New Course
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Price: $0.25 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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UPDATE - Global Hunter Securities upgrades TransAtlantic Petroleum (NYSE: TAT) from Accumulate from Buy. PT maintained at $2.60.
Global analyst says, "TransAtlantic made significant strides during Q3, including production growth, operational efficiencies, strategic partnerships and increasing financial clarity. TAT is nearing an inflection point with the looming sale of its oilfield services businesses that could leave the company with no debt and a cash surplus ready to begin a new year in 2012. As a result, we are upgrading our rating."
"Our new 2011 EPS, CFPS and EBITDA estimates are ($0.07), $0.15, and 71.7MM versus our previous estimates of ($0.09), $0.14, and $68.0MM, respectively. We have slightly curtailed our 2011 production estimate of 4,807 Boepd to our new estimate of 4,641 Boepd, due to the timing of pipeline connections. Our new 2012 EPS, CFPS, and EBITDA estimates are $0.08, $0.40, and $168.8MM compared to ($0.03), $0.36, and $138.5MM (that had included the services businesses) previously."
Global analyst says, "TransAtlantic made significant strides during Q3, including production growth, operational efficiencies, strategic partnerships and increasing financial clarity. TAT is nearing an inflection point with the looming sale of its oilfield services businesses that could leave the company with no debt and a cash surplus ready to begin a new year in 2012. As a result, we are upgrading our rating."
"Our new 2011 EPS, CFPS and EBITDA estimates are ($0.07), $0.15, and 71.7MM versus our previous estimates of ($0.09), $0.14, and $68.0MM, respectively. We have slightly curtailed our 2011 production estimate of 4,807 Boepd to our new estimate of 4,641 Boepd, due to the timing of pipeline connections. Our new 2012 EPS, CFPS, and EBITDA estimates are $0.08, $0.40, and $168.8MM compared to ($0.03), $0.36, and $138.5MM (that had included the services businesses) previously."
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