Q: After peaking at 15$ Pey seems on a steady drift,have held for awhile and look at adding as it seems to have good fundamentals- do you see a lower continuing
5i Research Answer:
We are not any better at predicting prices than anyone else, but there has been no negative news at PEY and the drift is likely more related to the sector than anything company-specific. As other sectors surge investors are likely selling the sector for more exiting opportunities. We would be fine buying PEY for sector exposure, high income at low valuation.