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Pressure Bioscience share price target raised

Last updated: 07:20 27 May 2016 AEST, First published: 02:20 27 May 2016 AEST

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Pressure Biosciences Inc (OTCMKTS:PBIO) share price target was raised by SeeThruEquity brokers on Thursday.

The independent equity research and corporate access firm focused on small-cap and micro-cap public companies, said that "Importantly, PBIO's growth came from its core products and services segment, which we see as offering insight on the pace at which the company is gaining traction in the market.

"This is particularly true considering its recent co-marketing agreement with SCIEX, a global leader in mass spectrometry and scientific lab analysis, and a wholly-owned subsidiary of Danaher Corporation - a $60bn holding company, which has not even factored into PBI's revenue growth as of yet. We believe this represents tremendous unrealized value for PBIO," said Ajay Tandon, CEO of SeeThruEquity.

"Based on the results over the past year and expectations for the near future, we are increasing our price target to $1.75 per share," the broker note added.

Pressure shares closed up 0.3% at $0.45 on Thursday.

Meanwhile, Dundee highlighted a couple of energy stocks.

Chinook Energy Inc (TSE:CKE) is reiterated as Neutral with a share price target of C$0.45 by Dundee.

Chinook Energy announced that it has agreed to sell 20 gross (15 net) sections of Montney rights in East Gold Creek, along with minor associated production, reserves and infrastructure for $7.5mln. The deal is expected to close on or before June 30, 2016 and has an effective date of May 1.

Chinook will still retain its 24.5 (16.5 net) and 35 (20.5 net) Montney sections to the west at Gold Creek and Knopcik, respectively (see map in Figure 1) and the two prior (1.13 net) horizontal Montney wells drilled in 2014.

The disposition includes only 23 boe/d (62% oil and liquids) of legacy production, 98.6 mboe of TP reserves and 137.8mboe of 2P reserves with associated NPVs (BTax 10%) of $0.7 and $0.9mln, respectively.

Chinook shares close dup 3.9% at C$0.53 on Thursday.

Dundee also recommended RMP Energy Inc (TSE:RMP) as a Buy with a price target at C$2.10.

RMP announced the anticipated well results, consolidation of land and acquisition of infrastructure at its Gold Creek Montney area.

"All positives in our opinion as we believe the market had not included any credit for Gold Creek (there was none in our estimates), but there is growing confidence the play could emerge as a legitimate third leg to the inventory stool with potential for hundreds of drilling locations," Dundee said.

RMP shares closed up 2% at C$1.50.

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