Canaccord Genuity Upgrades Talisman Energy (TLM) to Buy; NXY/CNOOC Deal Offers Positive Read Through
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Price: $11.82 +2.69%
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 13
Trade TLM Now!
Canaccord Genuity upgraded Talisman Energy (NYSE: TLM) from Hold to Buy, price target raised to $15.00.
Analyst, Phil Skolnick, said, "We are upgrading TLM (after having downgraded the stock almost a year ago on July 29, 2011, to HOLD) on the back of Nexen (NYSE: NXY) announcing it is being acquired by CNOOC (NYSE: CEO) for $15.1 billion, or US$27.50 per share, in an allcash transaction. The NXY/CNOOC deal has a positive read--through for TLM. We believe it is a positive indicator of TLM’s ability to be acquired given its mixture of international assets (55% of production is outside of North America). Even though TLM does not have the same long-life oil sands assets that NXY has, SE Asia is a highlight, in our view, that could motivate a buyer of the company given it offers production growth (expecting 8% CAGR) + potentially rising gas prices."
For an analyst ratings summary and ratings history on Talisman Energy click here. For more ratings news on Talisman Energy click here.
Shares of Talisman Energy closed at $11.58 yesterday, with a 52 week range of $9.46-$20.75.
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Analyst, Phil Skolnick, said, "We are upgrading TLM (after having downgraded the stock almost a year ago on July 29, 2011, to HOLD) on the back of Nexen (NYSE: NXY) announcing it is being acquired by CNOOC (NYSE: CEO) for $15.1 billion, or US$27.50 per share, in an allcash transaction. The NXY/CNOOC deal has a positive read--through for TLM. We believe it is a positive indicator of TLM’s ability to be acquired given its mixture of international assets (55% of production is outside of North America). Even though TLM does not have the same long-life oil sands assets that NXY has, SE Asia is a highlight, in our view, that could motivate a buyer of the company given it offers production growth (expecting 8% CAGR) + potentially rising gas prices."
For an analyst ratings summary and ratings history on Talisman Energy click here. For more ratings news on Talisman Energy click here.
Shares of Talisman Energy closed at $11.58 yesterday, with a 52 week range of $9.46-$20.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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