UBS has a “sell" recommendation on Tap Oil and a 12-month price target of 34¢ a share.
“The low oil prices couldn’t have arrived at a worse time for TAP, with the Manora oilfield successfully ramping up," the broker said.
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Elise Shaw writes on Markets specialising in Equity Markets, Commodities, Mining. Based in our Sydney newsroom, Elise has over 25 years experience as a finance and markets journalist and editor. Connect with Elise on Twitter.
