Global Hunter Securities Starts Gran Tierra Energy (GTE) at Buy; No Debt, Decent Cash Flow, & Exploration Upside

July 3, 2012 8:52 AM EDT
Get Alerts GTE Hot Sheet
Price: $2.61 --0%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Global Hunter Securities initiates coverage on Gran Tierra Energy (NYSE: GTE) with a Buy. PT $6.50.

Analyst, John Malone, said, "GTE is a Latin America-focused small-cap (~$1.4B) E&P headquartered in Calgary and traded on the AMEX and TSX. We see GTE as an undervalued play on Latin America, where political shifts, improving price realizations and promising geology are making for some world-class developments. We do not think the market is valuing GTE effectively given that it is selling at our estimate of proved reserves, but with no debt, decent cash flow and potential for exploration success we see plenty of upside potential."

For an analyst ratings summary and ratings history on Gran Tierra Energy click here. For more ratings news on Gran Tierra Energy click here.

Shares of Gran Tierra Energy closed at $4.88 yesterday.

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