Globe says Questerre nicely leveraged to nat gas price
2009-06-18 07:17 ET - In the News
The Globe and Mail reports in its Thursday, June 18, edition that Marquest Asset Management manager Andrew Cook sees opportunity in Questerre Energy. Lois Lee writes in The Globe's BNN Market Call column that Questerre Energy stock slipped three cents to close Wednesday on the Toronto Stock Exchange at $1.58.
Questerre Energy has a one-year range of 78 cents to $5. Mr. Cook says: "The company's main asset is an interest in a large prospective shale gas field in the Quebec Lowlands. This provides significant leverage to a rising natural gas price."
In his general outlook Mr. Cook says: "While stocks have rallied significantly from their lows and may consolidate in the near term, we believe that the amount of monetary and fiscal stimulus, the steep yield curve, attractive valuation and cash on the sidelines ensure a continued upward trend in equity markets.
Outperformance will continue to come from emerging markets and the resource sector. From a strategic view, we have been taking profits in stocks that are overbought and redeploying the cash into stocks which demonstrate better risk/reward."
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