Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Edison Investment Research is terminating coverage on Brooge Energy (BROG), Tyman (TYMN), SymBio Pharmaceuticals (4582), Aspire Global (0EAZ), CiiTECH and Marshall Motor Holdings (MMH). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.</p>

Edison Investment Research is terminating coverage on Brooge Energy (BROG), Tyman (TYMN), SymBio Pharmaceuticals (4582), Aspire Global (0EAZ), CiiTECH and Marshall Motor Holdings (MMH). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

<p>Brooge Energy (BROG) is preparing to raise equity capital for its Phase III oil storage facility. With the feasibility study almost complete, securing project funding would be the next step towards starting construction. Meanwhile, BROG’s Phase I operations are negatively affected by current low demand for ancillary services, despite high demand for oil storage. While this lowers our FY21 forecasts, the underlying long-term fundamentals are unaffected. Our updated valuation, based on Phase I and Phase II, using a blend of DCF, EV/EBITDA and P/E approaches, decreases to $10.3/share from $11.4/share.</p>

Brooge Energy (BROG) is preparing to raise equity capital for its Phase III oil storage facility. With the feasibility study almost complete, securing project funding would be the next step towards starting construction. Meanwhile, BROG’s Phase I operations are negatively affected by current low demand for ancillary services, despite high demand for oil storage. While this lowers our FY21 forecasts, the underlying long-term fundamentals are unaffected. Our updated valuation, based on Phase I and Phase II, using a blend of DCF, EV/EBITDA and P/E approaches, decreases to $10.3/share from $11.4/share.

Brooge Energy - Equity raise planned for Phase III project

United Arab Emirates

Brooge Energy Limited operates as an independent oil refinery and storage company. The Company offers oil storage, blending, heating, additive injection services.

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Brooge Energy Ltd (BROG US)

Brooge Energy - Termination of coverage

Edison Investment Research is terminating coverage on Brooge Energy (BROG), Tyman (TYMN), SymBio Pharmaceuticals (4582), Aspire Global (0EAZ),...

Edison Investment Research

Brooge Energy - Equity raise planned for Phase III project

Brooge Energy (BROG) is preparing to raise equity capital for its Phase III oil storage facility. With the feasibility study almost complete,...

Edison Investment Research

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