MIND

[dan_s]

Mitcham Industies (MIND) hit a new 52-week high today and I believe it will continue a stready march to my Fair Value estimate of $13.50/share.

The company is debt free and their business is heavily weighted to oil prices. They are on-track to have very strong 4th quarter results.

Dan

[dan_s]

This article moved the stock price today.

http://seekingalpha.com/article/243803- ... urce=yahoo

Every analyst that takes the time to look at MIND will be impressed. The share price is bearly over book value, which is ridiculous.

[dan_s]

First Call has raised the 1yr target price for MIND to $15/share.

[dan_s]

Mitcham Industries (MIND) finished 2010 up ~58% year-to-date. I'm convinced it is going to top my Fair Value estimate by the end of Q1. This debt free company's business is tied directly to the exploration budgets of the majors and large-cap E&P companies. As oil prices go higher, exploration budgets are increased. At the top of all exploration "Wish Lists" is more seismic. MIND provides the equipment for large seismic shoots, both onshore and offshore.

MIND has a lot more upside for us, so it will remain in the Sweet 16.