PEDEVCO (NYSEMKT-PED) Q4-2013

Date: 
Wed, 2014-04-09
Industry: 
Energy

Title: Earnings update – adjusted valuation based on adjusted asset working interests – Neutral rating and revised target price to US$2.97

Synopsis: We update our coverage of PEDEVCO Corp. (NYSEMKT: PED) with a revised target price of US$2.97 from the previous target price of $5.14 and an upside of 44.8% to PED’s share price following PED’s issuance of its 10-K report. In this update report, we will discuss:

  • Update on newly acquired Wattenberg asset
  • Funding from new strategic partnership – RJ Resources
  • Revised valuation
  • Other funding issues
  • Our strategic discussion

Report length: 5 pages (excluding legal disclaimer)

Authors: 
Boris Miao