Barclays Downgrades Penn Virginia (PVA) to Underweight; Taking Profits

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Barclays downgraded Penn Virginia (NYSE: PVA) from Equalweight to Underweight with a price target of $4.00 (from $5.00).

Analyst, Thomas R. Driscoll, lowering forecasts, oil and NGL price assumptions. The analyst cited PVA's recent run-up (from $3.91 on April 10, 2012, to last Friday's close at $7.34 (~85% gain))

FY12 EPS estimate lowered from -1.00 to -1.15 and FY13 from -1.35 to -1.50.

For an analyst ratings summary and ratings history on Penn Virginia click here. For more ratings news on Penn Virginia click here.

Shares of Penn Virginia closed at $7.34 yesterday, with a 52 week range of $3.92-$14.12.

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