11-14-2013, 12:25 PM
As it happens, I don't think Pavel has done anything to be ashamed off. His cautious stance up until now has been quite on the mark, and his price target is simply based on NAV calculations that takes a de-facto P1 level and multiplies it with a price average for deals in the region.
Personally I think the latter is a little too conservative, as E/A isn't just your garden variety resource, but gives him room for increase when deal metrics become known.
Personally I think the latter is a little too conservative, as E/A isn't just your garden variety resource, but gives him room for increase when deal metrics become known.