Credit Suisse Starts Synergy Resources Corporation (SYRG) at Outperform
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse initiates coverage on Synergy Resources Corporation (NYSE: SYRG) with a Outperform rating and a price target of $9.00, saying it offers pure play Wattenberg exposure at a discount.
Analyst Mark Lear commented, "Following SYRG's acquisition of 33.1k net acres within its core Greeley Crescent development area from NBL back in May, the company now estimates it has over 1,000 gross longer lateral drilling locations in that area alone. This represents ~10 years of core inventory assuming a more rapid 2017 drilling program calling for 68 gross Mid-Length (ML) wells and 34 gross Long-Length (LL) wells. The company also retains additional inventory within its 47k total net acres in the Wattenberg Fairway, while another 52k net acres in the Northeast Extension area represents further upside potential in an improved commodity price environment."
Shares of Synergy Resources Corporation closed at $5.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baird Remains Bullish on Synergy Resources (SYRG) Following Update
- Deutsche Bank Starts Danaher (DHR) at Buy
- Deutsche Bank Starts Illumina (ILMN) at Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesCredit Suisse, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!