Three analysts released updates on Canadian Spirit Resources Inc. (SPI) today. Indications are that all three analysts are still very bullish on SPI and believe in SPI's longterm upside potential.
Wellington West reiterates their strong buy rating and says that industry data substatiates their project valuation of +$3/share.
Dundee Capital Markets says long term story remains positive. They state that although the initial results are slightly below company expectations, they are not at all discouraged. They still believe in SPI's asset base and exposure to the Montney play over the long term and see a lot of activity coming down the pipe. They are maintaining their Buy rating and feel SPI offers significant exposure to the Montney play. They conclude saying this is a buying opportunity and "their is no disputing the evident upside potential from their Montney land base."
Salman Partners Morning Note maintains SPI as a Top Pick with a target price of $2.50.
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