Morningstar Analyst David Meats Values Talisman Energy At C$9 Per Share

When asked if the Repsol SA (OTC: REPYY) C$6-8 per share bid for Talisman Energy Inc. (NYSE: TLM) was fair, Morningstar Analyst David Meats told Benzinga that his fair value for the company is C$9 per share.

“I think the value of the company really depends on your view of future oil prices,” he said.

Meats doesn’t just mean oil prices in the next year or two, but more on the long-term spectrum. Morningstar’s long-term price outlook for WTI is $90 a barrel.

“Under those circumstances, the value of the business looks much higher than where it’s currently trading,” he said.