UPDATE: Stifel Upgrades Bonanza Creek Energy (BCEI) to Hold

September 29, 2016 7:12 AM EDT
Get Alerts BCEI Hot Sheet
Price: $1.38 -4.83%

Rating Summary:
    10 Buy, 18 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Trade BCEI Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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."

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

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






Related Categories

Analyst Comments, Analyst EPS View, Upgrades

Related Entities

Stifel, OPEC

Add Your Comment