Market's view on Star Energy
Published on April 2024
- Positive momentum is noted in STAR’s market outlook with bullish control and recommendations to stay long due to low bearish confirmation probability.
- IGas Energy PLC has partnered with SSE Heat Networks for a geothermal heating project in Stoke-on-Trent, significantly boosting its share price.
- Expectations include developments in Croatia and potential institutional interest due to undervaluation of shares, with target price revisions suggesting optimistic future performance.
- Shareholder anticipation for asset sales or partnerships to enhance the valuation of UK oil and gas portfolios.
- Uncertainties exist regarding the commercial viability and regulatory approval of geothermal and oil projects, with calls for clearer strategies and management actions.
- Financial performance shows improvement with a significant positive swing from a loss in the previous year to operating profit.
- Development plans in place for several projects including environmental permits for Glentworth and secured grid connection for Bletchingley, which is now shovel-ready.