Market Chatter: North American Energy Surges 17% as Barron's Says Stock May Surge


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North American Energy ( NOA ) shares are up more than 17% to $4.28 after a Barron's report outlining new CEO Martin Ferron's efforts to turnaround the company suggested the stock may be significantly undervalued.

The reported cited Badal Pandhi, an analyst at FrontFour Capital Group, as saying in the next 12 months, the stock could be worth $6.50, or 78%, above current levels, based on an enterprise value of 3.5 times his 2014 estimated earnings before interest, taxes, depreciation and amortization.

NOA shares are trading in a 52-week range of $2.23 - $4.70.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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