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+--- Thread: InterOil's (IOC) New CEO Hits the Ground Running - Raymond James (/showthread.php?tid=4141)
InterOil's (IOC) New CEO Hits the Ground Running - Raymond James - Rob Cos - 07-12-2013
InterOil's (IOC) New CEO Hits the Ground Running - Raymond James
Raymond James analyst Pavel Molchanov reiterated an Outperform rating and $100 price target on InterOil (NYSE: IOC) after the company named Michael Hession CEO today.
The analyst the new CEO brings LNG and regional experience. Hession is wasting no time making his mark, Molchanov said. Today he confirmed that the company is committed to pursuing a stand-alone LNG project following the completion of ongoing resource sell-down negotiations with Exxon. "In other words, Hession's immediate priority is to finalize the Exxon transaction, and then he can turn his attention to long-term strategy," the analyst interprets the comments.
"While Hession's hiring was not necessary for the Exxon transaction to be finalized, we think it can help speed things along," Molchanov notes. "While Hession and the rest of the management team are - wisely - not making specific promises about timing for the deal announcement, we believe that essentially all of the key terms have already been agreed by the two sides, leaving the proverbial "paperwork" and other minor provisions left to be finalized."
For an analyst ratings summary and ratings history on InterOil click here. For more ratings news on InterOil click here.
Shares of InterOil closed at $68.15 yesterday, with a 52 week range of $50.90-$106.44.
The analyst the new CEO brings LNG and regional experience. Hession is wasting no time making his mark, Molchanov said. Today he confirmed that the company is committed to pursuing a stand-alone LNG project following the completion of ongoing resource sell-down negotiations with Exxon. "In other words, Hession's immediate priority is to finalize the Exxon transaction, and then he can turn his attention to long-term strategy," the analyst interprets the comments.
"While Hession's hiring was not necessary for the Exxon transaction to be finalized, we think it can help speed things along," Molchanov notes. "While Hession and the rest of the management team are - wisely - not making specific promises about timing for the deal announcement, we believe that essentially all of the key terms have already been agreed by the two sides, leaving the proverbial "paperwork" and other minor provisions left to be finalized."
For an analyst ratings summary and ratings history on InterOil click here. For more ratings news on InterOil click here.
Shares of InterOil closed at $68.15 yesterday, with a 52 week range of $50.90-$106.44.
RE: InterOil's (IOC) New CEO Hits the Ground Running - Raymond James - Palm - 07-12-2013
Thanks RC! Good to see Pavel endorse the hire and vision for the company.