Well, actually it's not my price target, it is the target set by Jennings. They just hit their previous target of $1.75 which was set in the summer, which lends some credibility to their forcasting for this stock. Actually, if you read the report you will see that the target is based upon an analysis of their potential target zones and uses conservative numbers in terms of success rate and sales.
I have seen other brokerages starting to take notice of CNS and have seen other targets in the $3.00 range, which is about a 70% return from today's price of $1.76. I'll be willing to settle for 70% on my money over the next 12 months, but think that the potential is much greater and those figures may get revised before then.
Glad you made some profits here, but I think that there is a lot more to be made in CNS yet. The company is starting to attract more attention from funds now and since it is a Canadian company which exposure to India, widely believed to be one of the best areas for growth in the comming years. India has an initiative to promote companies like CNS since they are interested in reducing their imports of natural gas. Companies like this will likely only become more and more attractive over time.
Hope this helps.
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