This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. How good is it? See rankings and related performance below.
|Zacks Rank||Definition||Annualized Return|
Zacks Rank Education - Learn more about the Zacks Rank
Zacks Rank Home - All Zacks Rank resources in one place
Zacks Premium - The only way to get access to the Zacks Rank
Bear of the Day: Statoil ASA - ADR
by Zacks Equity ResearchJanuary 09, 2013 | Comments : 0 Recommended this article: (0)
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at firstname.lastname@example.org or call 800-767-3771 ext. 9339.
While reiterating its 2012 guidance, management now expects 2013 production to decline sequentially versus the previous flat forecast. While Statoil is fairly active in its development operations, we remain apprehensive as hiccups remain in the company's production growth for the time being.
Considering the aforementioned reasons, we are downgrading our long-term recommendation. Our $23 price objective, based on the 2013 P/E multiple of 8.0x, supports this view.
Please login to Zacks.com or register to post a comment.