Goldman sucks does it again – slaps a conviction sell on the cheapest, cash backed stock in the market!

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News that the vampire squids “anal”ysts slapped a conviction sell on ABG today had me not just coughing over my cornflakes this morning, but literally fainting into them. Shock is not the word – utter disbelief. For those unfamiliar with just how cheap this stock is, check out the last edition of our mag here on page 18 –

The squid has, amazingly, put a 100p target on the stock. That would put the stock on around just a 40p premium to its last reported net cash and around 1.4 times EBITDA for 2014. As for the EV/resource base… don’t even go there!

To the Goldman analyst who put this out – email me at editor@spreadbetmagazine for a lesson in how to analyse a cheap, very cheap stock.

The last time we went mano-mano was on ENRC at Xmas (see here – and the stock took off by almost 50%! 

We could not have wished for a more contrarian Buy signal than that for the longs of ABG. Cheers lads!

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