Q: Hi 5i
Whats driving the price of TVE these days? Possibility of buyout? or russia - Ukraine uncertainty?
Would these be same forces driving pipeline prices?
Do you see continue upside? Would you continue to hold or would you be a buyer?
thx
Whats driving the price of TVE these days? Possibility of buyout? or russia - Ukraine uncertainty?
Would these be same forces driving pipeline prices?
Do you see continue upside? Would you continue to hold or would you be a buyer?
thx
5i Research Answer:
TVE has reported record production and upped its production guidance for the year. It has also made a nice bolt-on acquisition and is seeing some broker target price upgrades. YTD return is now 14.6%. While it is not beyond possibility, we would not see the move due to a takeover. Much of the gain is due to company reasons and not necessarily correlated to pipeline stocks. We would remain comfortable as buyers.