Q: 2question please: Have you changed your ideal entry price from 65$?and why? Also what is giving White Cap along with others in energy some momentum and can you see White Cap hitting 11$ or more? Tks.Larry
5i Research Answer:
We think $65 is still a very attractive entry price, that said, the current share price does not look expensive to us either, after better than expected results, so we might leave room to buy in the $68 range and the add if keeps dropping to $65. Some energy names are getting positive momentum recently due to an improvement in commodity prices, which highly correlates with these companies share price. We think $11 could be achieved if commodity prices remain favourable for quite some time.