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Fox Davies Buy Range Resources at 3.655p with a 25p Target Price. I disagree natch.

Tom Winnifrith
Wednesday 19 December 2012

You know that I am a bear of AIM listed oil producer Range Resources (LSE:RRL) but I am nothing if not a balanced sort of fellow and hence this piece. I reckon that the shares are stonking short on the basis of non delivery, peer group relative cashflow multiples and the act that Range’s cash position is less than splendid – I am convinced that it will do a funding at some stage soon.

But others are bullish. Notably the company’s house broker Fox Davies which has reiterated its 25p target share price and buy stance in a research note out today ( 19th December).

My target price is 1.5p and you can read why HERE.

But becuase I am such a decent sort of fellow I offer an alternative viewpoint.

Download the PDF here

Whether you buy, sell or hold is your call. Have a very merry Christmas.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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