Canaccord Genuity Maintains a 'Buy' on Pengrowth Energy Trust (PGH); Fires Cause Temporary Shut-in
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Price: $5.14 +1.38%
Rating Summary:
4 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
4 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PGH Now!
Canaccord Genuity maintains a 'Buy' on Pengrowth Energy Trust (NYSE: PGH), PT C$15.
Canaccord analyst says, "Pengrowth announced the temporary shut-in of ~5,000 boe/d (or ~7% of total production) as a result of North Central Alberta wildfires that have interrupted production in two areas. While this is negative in the short-term, we do not expect the shut-ins to last very long or significantly impact our valuation of the company. As such, we are maintaining our rating."
For more ratings news on Pengrowth Energy Trust click here and for the rating history of Pengrowth Energy Trust click here.
Shares of Pengrowth Energy Trust closed at $12.94 yesterday, with a 52 week range of $8.60-$14.60.
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Canaccord analyst says, "Pengrowth announced the temporary shut-in of ~5,000 boe/d (or ~7% of total production) as a result of North Central Alberta wildfires that have interrupted production in two areas. While this is negative in the short-term, we do not expect the shut-ins to last very long or significantly impact our valuation of the company. As such, we are maintaining our rating."
For more ratings news on Pengrowth Energy Trust click here and for the rating history of Pengrowth Energy Trust click here.
Shares of Pengrowth Energy Trust closed at $12.94 yesterday, with a 52 week range of $8.60-$14.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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