Husky Energy could use CAD 2.3bn cash pile for M&A activity
Husky Energy (TSE:HSE) (OTCMKTS:HUSKF), the Calgary, Alberta-based integrated energy company, could pursue acquisitions, reported Investor's Digest of Canada's 10 June edition.
Desjardins Capital Markets analysts Justin Bouchard and Zaakir Karim said in a research note cited in the report that Husky, after an asset sale, has a cash position worth some CAD 2.3bn (USD 1.765bn). The analysts said in the report that the company could be positioning itself for M&A activity, a prolonged period of commodity price weakness or potentially both.
The company's market cap is USD 11.81bn.
The original article appeared in print; What The Brokers Say About Canadian Stocks section, Page 228
Investor's Digest of Canada