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Fly News Breaks for May 17, 2018
TGA
May 17, 2018 | 07:41 EDT
As noted earlier, RBC Capital analyst Al Stanton upgraded TransGlobe to Outperform from Sector Perform and raised his price target to CAD 4 from CAD 3. The analyst cites the company's listing on London Stock Exchange's AIM while also stating the valuation looks "deeply discounted" at 45% below his tangible net asset value, which he attributes to Egypt's fiscal risk and low appetite among Canadian investors for international E&Ps.
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