Fly News Breaks for April 2, 2019
TRCH
Apr 2, 2019 | 11:03 EDT
Roth Capital analyst John White notes that during its recent conference call update, Torchlight Energy Resources announced it is seeking a transaction involving a joint development venture, a sale of the company or a sale of all or substantially all of its Orogrande Basin assets. The company believes its positive drilling and testing results to date warrant this move and the analyst concurs with this timing. White believes numerous major oil companies and large capitalization exploration and production companies will express interest. The analyst reiterates a Buy rating on the shares, while raising his price target on the stock to $2.70 from $1.75.
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