Imperial Capital Re-Starts Triangle Petroleum (TPLM) at Outperform

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Imperial Capital re-initiates coverage on Triangle Petroleum (NYSE: TPLM) with a Outperform. PT $7.50.

"With the vertical integration its investments in RockPile Energy Services and Caliber Midstream provide, we believe TPLM is well positioned to develop its core Bakken acreage," the analyst notes. "On 3/4/13, the company announced a $55.8mn equity investment by Natural Gas Partners; TPLM plans to use the proceeds to fund a third rig in order to expedite its drilling program."

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

Shares of Triangle Petroleum closed at $6.47 yesterday, with a 52 week range of $4.63-$7.91.

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