Capital One Southcoast Downgrades Penn Virginia Corporation (PVA) to Neutral; Take Some Gains Off The Table
More News related to PVA
- SunTrust Upgrades Penn Virginia (PVA) to Buy
- Penn Virginia (PVA) Announces Organizational Changes
- Penn Virginia Corporation Announces Organizational Changes
- pSivida Corp. Reports Results for the First Quarter Ended September 30, 2009
- Penn Virginia Resource Partners, L.P. Announces Upcoming Conference Participation
Capital One Southcoast downgrades Penn Virginia Corporation (NYSE: PVA) from Add to Neutral. Price target $24.
Capital One analyst says, "We recommend that investors take some of their gains given that PVA shares are up 14% since the announcement of the partial monetization of its MLP last week and are now within $1 of our $24 target price. We like the company's progress de-risking its balance sheet but believe that the shares are close to fully valued using our gas price deck ($3.75 for 2H09, $5.00 for 2010, & $6.50 for 2011+). In our view, PVA shares are already pricing in ~$6.50 gas long term while the Sep 2009 - Dec 2012 gas strip is currently $6.25."
To see more analyst ratings on PVA Click Here.
Penn Virginia Corporation engages in the development, exploration, and production of natural gas and oil in east Texas, the Mid-Continent, Appalachia, Mississippi, and the Gulf Coast regions of the United States.
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