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I always value your information which I know cannot constitute advice.
I would like to know what your prognosis is for Oil Search OSH shares. I bought some a while ago when things looked good but since July they are not going anywhere. The analyst consensus seems to be that I should hold, but what think you? I am really glad I held onto my CBA shares despite the media hype. So holding sometimes is a good move.
Have you reported on the AMP Core Infra Structure Fund and I missed it?
A: I haven’t reported on the AMP Core Infrastructure Fund.
In regard to Oil Search, I have never really been a huge fan mainly because of the PNG risk. That said, they are probably the purest oil play.
Where is oil heading? Who knows, but it doesn’t sound like a commodity that has huge short term upside and hence I don’t get a sense that I must play.
Specifically with Oil Search, the brokers remain fairly positive. According to FN Arena, of the 8 major brokers, there are 5 buys and 3 neutrals. The consensus target price is $7.44, a 16.4% premium to today’s price.
Probably a hold.
Regards
