Australian-based oil and gas exploration and production company KAR is up +14.2% year-to-date, making it one of the best in the Energy Sector, especially compared to its oil and gas peers. However, we have now adopted a more passive stance towards oil after its stellar rally from its May low, which, by definition, leaves us on the fence with regard to KAR.
- We aren’t fans of the risk/reward toward KAR around the $2.50 area, although the Middle East situation could at any time see another spike higher.
MM is neutral KAR
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