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Bullish Case: Recent financials beat expectations, with revenue up 5% and EPS 35% above predictions, hinting at potential re-rating. Analyst upgrades post-results signal underappreciated growth potential, reflecting high optimism for EGY, underscored by the Venus-Block P development.


Bearish Case: Despite recent earnings beat, analysts forecast an 8.3% revenue decline for 2024, conflicting with industry growth. Historical share performance and sectorial headwinds suggest sustained underperformance, aligned with broader industry struggles.


Potential Outcomes:

1. Positive re-rating following development successes (30%);

2. Underperformance relative to sector, due to predicted revenue declines (50%);

3. Market aligns with bullish future EPS estimates leading to stock recovery (20%).


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April 19, 2024


VAALCO Energy Forecast

EGY        VAALCO Energy
Price Forecast: BULLISH    Price Action: RANDOM (?)










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