09-17-2015, 01:20 AM
Value in InterOil Highlighted by M&A Activity, Says GS -- Market Talk
0251 GMT [Dow Jones] There's a lot of upside potential in InterOil's (IOC) shares, with unrecognized value in the company's Papua New Guinea assets highlighted by recent M&A activity in the energy industry, notes Goldman Sachs. It adds InterOil to its 'Conviction List,' with a 12-month target price of US$45 per share. The brokerage anticipates further drilling data, resource certification and a major payment from venture partner Total (TOT) in the next 6 to 12 months. The value in Papua New Guinea has been exposed by Woodside's (WPL.AU) takeover offer for Oil Search (OSH.AU), it adds. (robb.stewart@wsj.com; Twitter: @RobbMStewart)
Editor: JFN
(END) Dow Jones Newswires
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