Update on Panama Petro. Decent stock beaten down. 50% upside potential.
Panama Petro was beaten down from highs of 260s towards 175 almost 30% from highs.
Stock PE seems to have been re-rated to 20x from 25x.
At 20x annualized current quarter EPS of 2.81, stock can move towards 225 in less than 3 months. Have a Stoploss of 165.
On one year view, we are positive on the sector and the stock can move towards fresh 52 week highs of 280. Have a SL of 140 and add on dips if any. (50% upside seen in a year.)
Earlier call on Panama Petro: