Canaccord Genuity Rates Endeavour International (END) at Buy, Unjustified Hangover in the Stock

September 28, 2012 8:38 AM EDT Send to a Friend
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Price: $0.16 --0%

Rating Summary:
    3 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 30
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Canaccord Genuity transitions coverage on Endeavour International (NYSE: END) with a Buy. PT $12.50.

"We believe there is still an unjustified hangover in the stock as a result of a large North Sea acquisition (Alba) that almost fell apart earlier this year," the analyst said. "The focus should be on production, where driven by its UK North Sea operations END has begun a period of significant, mostly oily growth that we do not believe is reflected in the stock price. Furthermore, END has additional upside potential from the Heath Shale in Montana and a new liquids stealth play in Colorado, neither of which are currently reflected in our ~$15 NAV."

For an analyst ratings summary and ratings history on Endeavour International click here. For more ratings news on Endeavour International click here.

Shares of Endeavour International closed at $9.50 yesterday.

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