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Mackie Research Initiates Coverage on Aveda Transportation and Energy Services with a Speculative Buy Recommendation - Video Summary on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2013) - Investment firm Mackie Resea...
About this update from Aventis Energy Inc
[{"type":"text","content":"\nMackie Research Initiates Coverage on Aveda Transportation and Energy Services with a Speculative Buy Recommendation - Video Summary on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - August 14, 2013) - Investment firm Mackie Research has initiated coverage on Aveda Transportation and Energy Services (TSXV: AVE). Analyst Raveel Afzaal gives the company a speculative buy rating, and a 12 month target \nprice of $3.60, a premium of 47% to the $2.45 price the day the report was issued. \n\n\n\n\n\nIf you cannot view the video above, please visit:\nhttp://www.investmentpitch.com/video/0_siopk2of/Mackie-Research--Initiated-Coverage--Aveda-Transportation-and-Energy-Services-TSXV-AVE  \n\nInvestmentPitch.com has produced a “video news alert” about based on this research report. If this link is not enabled, please visit\nwww.InvestmentPitch.com and \nenter “Aveda” in the search box. \n\nAveda provides transportation services, representing approximately 94% of its consolidated revenues as well as rental equipment services, for the oil and gas industry in Western Canada and the U.S., in and around the shale plays in the states of \nTexas and Pennsylvania. \n\nTransportation services include both the equipment necessary to move the load as well as a trained, professional driver capable of securing, moving and manipulating the load at its origin and destination. Aveda’s rental operations include the \nrental of tanks, mats, pickers, light towers and other equipment necessary for oilfield operations. \n\nThe company’s revenues from the U.S. grew from $15 million in 2010 to $47 million at the end of 2012, and are forecasted to reach approximately $57 million by the end of 2013. \n\nIn their report, Mackie Research stated that they expect revenues from the U.S. to offset the decline in total revenues arising from softness in activity levels in Western Canada, and that revenues from the U.S. market would grow to $63 million \nby the end of 2014, representing approximately 70% of the consolidated revenues.\n\nAnalyst Raveel Afzaal stated, “Our discussions with industry participants indicate that oil and gas activity levels have started to rebound, which could lead to significant upside to our target price.” \n\nThe shares are currently trading at $2.40, below Mackie...