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摩根大通首予MI能源(1555.HK)增持，目标2.50港元

J.P. Morgan expects MI Energy (1555.HK) to increase its holdings for the first time, with a target of HK$2.50

摩根大通 ·  Jan 17, 2011 17:41  · Researches

J.P. Morgan gave MI Energy (1555.HK) an increase rating for the first time, with a target price of HK$2.50.

J.P. Morgan said that since 2004, the compound annual growth rate of MI Energy's three oil fields has been 39%. The bank expects total production to increase by 20% in 2010 and 15% in 2011.

J.P. Morgan added that the geopolitical risks associated with the growth are low because these oil fields have been clearly defined and only need to be drilled and matched with existing infrastructure. According to J.P. Morgan, MI Energy has confirmed the location of about 1,400 oil wells, which will generate the expected growth; previous expenses have basically been recovered, and further expenses are expected to be recovered within the next month of operation.

MI Energy rose 6.44% last Friday to close at HK$2.15.

The translation is provided by third-party software.


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