KLR Group Raises Price Target on Synergy Resources (SYRG) to $9; Reiterates Buy
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
KLR Group reiterated a Buy rating on Synergy Resources Corporation (NYSE: SYRG), and raised the price target to $9.00 (from $8.00), following an improvement in oil price realizations. Over the remainder of the year, Synergy plans to drill 19 gross well comprising nine Mid-Length wells on the Williams Pad and ten MidLength wells on the Kawata pad.
Analyst John Gerdes commented, "We are increasing our SYRG target price $1 to $9 per share due to a modest improvement in oil price realizations relative to NYMEX after this year. Specifically, we anticipate as the company’s production growth exceeds its volume commitments next year, exposure to stronger regional pricing should narrow Synergy’s NYMEX discount ~$1.50 to ~$8.50 per barrel."
Shares of Synergy Resources Corporation closed at $6.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
- FBR Capital Cuts Price Target on Carrizo Oil & Gas (CRZO) Following Announced Eagle Ford Shale Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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!