In a report published Wednesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $14.00 price target on Triangle Petroleum Corporation (NYSE: TPLM).
In the report, Wunderlich Securities noted, “Triangle Petroleum (TPLM) reported a strong F2Q15 as EPS of $0.20 easily beat our $0.14 estimate and the Street's $0.15 forecast due to a significantly higher production figure and higher-than-expected revenues from Rock Pile. The stock moved higher early in trading Tuesday but during the call fell and ended the day under-performing its sector. As you can see, our estimates have moved higher (as we assume most will), so what gives? Well the company explained that the success it has achieved in the last few years is something worth building on given the value creation and it intends to continue these endeavors rather than simply hang a ‘For Sale' sign outside its office. We think this short-sighted move by the market is a great opportunity given the long-term value creation at TPLM.”
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I am working on my forecast model for TPLM right now. 2nd quarter results beat my forecast and everything looks good. They appear to be well on their way to 100% production growth this year. For now, I will hold my Fair Value Estimate at $15.00/share, but I can definitely see upside from there. - Dan
Triangle Petroleum (TPLM)
Triangle Petroleum (TPLM)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Triangle Petroleum (TPLM)
Triangle Petroleum (TPLM): An updated Net Income & Cash Flow Forecast model has been posted under the Watch List Tab.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group