‘Smart Trade Group’, who recently published similar tidings concerning a recommendation made in February to buy Dragon Oil, continues to favor oil explorers and producers as what it sees as a “woeful underestimation”
Petrofac, among other key operations, designs and builds oil & gas facilities and has recently secured a lucrative sea training contract with oil major, BP.
‘Smart Trade Group’ recommended purchasing the stock at 300p. It has rallied to over 600p in 4 months.
‘Smart Trade Group’ is thought to believe that the price of oil will inevitably return to over $100 a barrel as the economies of China and India return to health. Between them, the two countries have one third of the world’s population and increasing prosperity has seen car ownership become more prevalent.
