BALTIMORE, MD / ACCESSWIRE / March 28, 2023 / Goldman Small Cap Research, a stock market research firm specializing in the small cap and microcap sectors, announced today that it has published a new research report on Camber Energy, Inc. (NYSE American:CEI), a diversified energy and power solutions company that is in a pending merger with Viking Energy Group Inc. (OTCQB:VKIN). The report carries a price target. To view the new research report, along with disclosures and disclaimers, or to download the report in its entirety, please visit https://bit.ly/3lKp95P.
Camber Energy is a growth-oriented organization that is leveraging the relationships and expertise of its professionals to build a diversified energy and power solutions company to help service the needs of energy users in North America. Through its majority-owned subsidiary, Camber provides custom energy and power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the US. The Company's majority-owned subsidiary also holds an exclusive license in Canada to a patented carbon-capture system, and has a majority interest in other, industry-related companies.
In the Opportunity Research report, analyst Rob Goldman reviews Camber's pending merger with Viking Energy, the prospective combined companies' competitive positioning, strategic and operational inflection points, and the potential future impact of these events on the companies and its combined valuation.
Pending Merger in 2H23 Could Drive CEI Valuation
Goldman commented, "Camber Energy and Viking Energy Group are set to merge later this year, sparking what we believe could be a major rise in valuation. We believe the merger could close in 3Q/4Q 2023 as a few steps are completed. In our view, the Company is one of the most diverse equipment and services companies in the energy and industrial segments. This diversification includes custom energy and power systems and services, clean energy technology, and interests in oil and gas interests."
CEI to Close New Business Pipeline, M&A, Implement Operational Efficiencies
"In our view, since the proposed merger has taken over 2 years, but is now just a few steps from completion, the legacy of "bad news" is reflected in the stock, thus it offers unique, company-wide upside," noted Goldman. "Once the merger is executed management will have the ability to focus solely on closing its pipeline of new business, prospective M&A and implementing operational and financial efficiencies."
Near Term Milestones, Meaningful Revenue Growth Ahead
"Our preliminary full year pro forma revenue forecasts for the combined company call for $31.0M in 2023 and $42.4M in 2024. These figures do not include any potential, meaningful acquisitions. Our 6-9-month price target reflects a major increase from current levels but still below its 52-week high. This target, which has some variability associated with it ahead of the merger's share exchange finalization, reflects a 4x multiple on 2024E revenue. This multiple is based upon a review of peers in ESG, energy, and specialty industrial equipment," said Goldman.
About Goldman Small Cap Research: Founded in 2009 by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces sponsored and non-sponsored small cap and microcap stock research reports, articles, stock market blogs, and popular investment newsletters.
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This press release contains excerpts of our most recently published company report on Camber Energy, Inc. ("The Company"). The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Goldman Small Cap Research relied solely upon information derived from Camber Energy, Inc. The information includes authorized press releases or legal disclosures made in their filings with the U.S. Securities and Exchange Commission http://www.sec.gov.
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Contact:
Goldman Small Cap Research
Rob Goldman, Analyst
410-609-7100
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SOURCE: Goldman Small Cap Research