Canaccord Genuity Reiterates a 'Buy' on Sanchez Energy (SN); Maverick Vertical Well Looks Solid

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Canaccord Genuity reiterates a 'Buy' on Sanchez Energy (NYSE: SN) price target of $34.00.

Analyst, John Gerdes, said, "We reiterate our rating and target price on SN. Sanchez Energy is almost entirely levered to the Eagle Ford and has a premier asset in the non-operated Palmetto area. Further, the company has completed what appears to be a solidly competitive initial vertical test in the Maverick area. We look forward to Sanchez’ mid-year update, which should highlight horizontal tests in three key areas: the northern portion of the Gonzales County acreage, the southwestern part of Fayette County and the western portion of Zavala County. Successful tests would generate meaningful value for shareholders in our view."

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 $22.97 yesterday, with a 52 week range of $16.96-$25.23.

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