Seaport Global Securities Starts Sundance Energy (SNDE) at Buy
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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."
Shares of Sundance Energy closed at $14.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Oppenheimer Starts Shopify (SHOP) at Perform
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Dougherty & Co Starts athenahealth (ATHN) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
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!