UPDATE: Stifel Upgrades Bonanza Creek Energy (BCEI) to Hold
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Updated - September 29, 2016 9:14 AM EDT)
Stifel upgraded Bonanza Creek Energy (NYSE: BCEI) from Sell to Hold with a price target of $1.00 following yesterday's OPEC agreement.
Analyst Michael S. Scialla said, "We are raising our rating to Hold from Sell on an improving oil price outlook. OPEC has reportedly agreed to cut production from 32.5-33.0 MMBls/d next year from its August level of 33.2 MMBls/d. While a formal OPEC agreement that meaningfully reduces supply and record global inventories is far from concrete, a change in Saudi policy, weather perceived or real, and positive commentary from the producer group’s leading officials, appear to be building an oil price floor of $40."
Shares of Bonanza Creek Energy closed at $1.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Upgrades Piedmont Office Realty Trust (PDM) to Hold
- Qualcomm (QCOM) Defended at Stifel, Should Be Bought on Weakness - Bloomberg
- Teradyne (TER) PT Raised to $28 at Deutsche Bank; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesStifel, OPEC
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!