Bullish broker tips 88 Energy for substantial upside

Cavendish sees huge upside (more than thirteenfold) for 88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ), with the bullish house-broker highlighting that the explorer has reshaped its Namibia farm-in agreement, stripping out US$15 million of anticipated funding exposure while retaining a 20% stake in frontier acreage. The broker reiterated its Buy rating and 19.8p target price on the AIM-listed company, implying 1,366% upside from a 1.4p share price.