Jefferies Drops Coverage on Mariner Energy (ME), Lowers and Raises EPS Estimates

Jefferies Buy rating on Mariner Energy Inc. (NYSE: ME), but does lower and raise its EPS estimates. For FY2010 the estimates dropped from $0.65 to $0.25 and for FY2011 they went from $0.90 to $1.00. The firm believes that the companies future is beginning to look even a little more promising than before.

The firm is reporting that they are dropping their coverage on Mariner Energy following its successful acquisition by Apache Corporation (APA, $109.08, NC). The firm last price target for the company was set at $20.

For more ratings news on Mariner Energy Inc. click here and for the rating history of Mariner Energy Inc. click here.

Shares of Mariner Energy Inc. closed at $26.25 yesterday, with a 52 week range of $11.35-$26.42.

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Jefferies & Co, Mariner Energy/Apache

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