Canaccord Genuity Maintains a 'Buy' on Sanchez Energy (SN); Infused
Get Alerts SN Hot Sheet
Price: $62.75 -0.29%
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
10 Buy, 12 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity maintains a 'Buy' on Sanchez Energy (NYSE: SN) price target of $38.00 (from $36.00).
Analyst, John Gerdes, said, "We are raising our target price as the cost of capital of the convertible preferred financing is superior to our expectation of a common equity transaction...This liquidity infusion provides the funding necessary to allow Sanchez to participate in a non-operated two-rig program in the Palmetto area and conduct one-rig programs, respectively, in the Marquis/Maverick areas. In ‘13, the company’s capital plan should approach $300 million."
For an analyst ratings summary and ratings history on Sanchez Energy click here. For more ratings news on Sanchez Energy click here.
Shares of Sanchez Energy closed at $19.03 yesterday.
Analyst, John Gerdes, said, "We are raising our target price as the cost of capital of the convertible preferred financing is superior to our expectation of a common equity transaction...This liquidity infusion provides the funding necessary to allow Sanchez to participate in a non-operated two-rig program in the Palmetto area and conduct one-rig programs, respectively, in the Marquis/Maverick areas. In ‘13, the company’s capital plan should approach $300 million."
For an analyst ratings summary and ratings history on Sanchez Energy click here. For more ratings news on Sanchez Energy click here.
Shares of Sanchez Energy closed at $19.03 yesterday.
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