North Sea Oil producer Premier Oil could be a target for BP. 750mm market cap, BP could it swallow it up whole without blinking and eyelid.
FV=210 so at 154 trading a signficant discount to Fair Value.
BP FV = 475 – FV now hit, so take some profit on the BP trade to take position in PMO.
Buy here at 154, Target 210, stop 115 (stop set below recent all time low).
Stock will be volatile with oil prices jumping around, so manage position accordingly.