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Barrios

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UBS

 

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.

 

Cheers.

 

 

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