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Analyst Actions: Acumen Capital Reiterates "Speculative Buy" on Reliable Energy

Acumen Capital analyst David Doig said Reliable Energy Ltd. (REL.V) reported third quarter production that was below expectations, but lower-than-anticipated costs helped to support cash flow and the company increased its production rate guidance for the end of the year, the Globe and Mail reported.

Acumen Capital continues to rate the stock as a "speculative buy," noting that it has raised its cash flow estimates for this year and for 2012 because of a more favourable view on costs. It has a 12-month target of 40 cents.

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

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

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