Seaport Global Securities Starts Sundance Energy (SNDE) at Buy

October 13, 2016 9:21 AM EDT
Get Alerts SNDE Hot Sheet
Price: $14.20 -3.66%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Seaport Global Securities initiates coverage on Sundance Energy (NASDAQ: SNDE) with a Buy rating and a price target of $25.00.

Analyst Mike Kelly commented, "We are initiating coverage of Sundance Energy Corp (SNDE) with a Buy rating and $25 NAV-based price target. We believe SNDE offers one of the most attractive valuation stories under our E&P coverage (trades at a ~4x discount to peers on FY17E EV/EBITDAX). In our opinion, this valuation gap is primarily attributable to a lack of awareness by US investors, which should be heightened over the next ~12 months. In addition to compelling value, we see SNDE delivering robust FY17 production growth of 41%, fueled by the completion of ~12 net capital-efficient DUCs in 2H:16. Furthermore, if SNDE executes on near-term completion optimization tests in Dimmit County, Texas, our NAV-based price target could be raised could by >$10/share."

For an analyst ratings summary and ratings history on Sundance Energy click here. For more ratings news on Sundance Energy click here.

Shares of Sundance Energy closed at $14.10 yesterday.

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