88 Energy tipped for substantial upside as explorer updates Burgundy deal

UK-based stockbroker Cavendish sees almost fifteen-fold upside in 88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) as the Alaska-focused explorer continues to progress its asset base in Alaska. The broker, in a note following news of an amendment to its participation agreement with Project Phoenix partner Burgundy Xploration, reiterated a Buy rating and 19.8p target price, compared with a current share price of 1.3p, implying 1,395% upside.