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Firstenergy note out this moring: "Relatively speaking, Faroe shares have not performed very well over the last six months. This probably reflects the defensive profile of the firm, which has a large net cash position and there-fore benefits less from a rebound in oil price. We continue to like Faroe, but among the ‘defensive companies’ with positive net cash and on our new price deck, the firm now offers less upside than Africa Oil. Under our scenario of rising oil prices, ‘leveraged companies’ are also likely to continue performing better." taken from research tree
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