Canaccord Genuity Starts GeoResources (GEOI) at Buy; Concentrated Eagle Ford/Bakken Exposure to Drive Healthy CFPS Growth

Canaccord Genuity initiates coverage on GeoResources (NASDAQ: GEOI) with a Buy. PT $43.00.

Canaccord analyst, John Gerdes, said, "GeoResources presents concentrated leverage to two of the most prolific liquids-oriented resource plays in the country: the South Texas Eagle Ford Shale and the Williston Basin Bakken Shale. Combined, we estimate GeoResources’s unrisked resource potential in these plays is ~80 Mmboe, which is over 3x the company’s ’10 proved reserves."

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

Shares of GeoResources closed at $30.42 yesterday.

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