International Petroleum Corporation (IPCO) – Long

14 févr. 2019

The stock closed at 39,55 SEK after Wednesday's trading. The price had risen with 12% on the publishment of the strong Q4 report on February the 12th. The company could present great results and hit the expectations by the margin. They're currently producing around 10 000 barrels of oil a day, but are heading towards 40 to 50 000 per day. CEO Mike Nicholson is very positive to the companies future and believes that 2019 will bring positive results as well. Last year they acquired the Canadian oil and gas company Black Pearl Resources and established their production of Brent oil in Canada. They are currently looking for additional acquisitions to expand. Today the investment bank ABG Sundal Collier sat new guidelines for the stock's future. They raised from 52 SEK to 60 SEK and repeated the recommendation BUY.