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0205 GMT [Dow Jones] STOCK CALL: UBS lifts Arrow Energy (AOE.AU)

price targets after increasing 2009 oil price forecast to US$62.30/bbl from US$59.10/bbl,

2010 forecast to US$75/bbl from US$70/bbl, and 2011 forecast to US$80/bbl from US$71/bbl.

Lifts Arrow target to A$5.19 from A$4.76 vs A$3.98 last trade with Buy recommendation,

forecasts more material coal seam gas reserves additions, plus increased production,

electricity sales growth.

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J B Were als initiated coverage on Monday with a target of $4.77.


A couple of business shows last night also muted some potentially positive fators which may drive the share price in the short term. If not at the AGM then shortly thereafter.





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