Wells Fargo Starts Kodiak Oil & Gas (KOG) at Outperform; Impressive Production Ramp Looming

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Wells Fargo initiates coverage on Kodiak Oil & Gas (NYSE: KOG) with a Outperform. Valuation Range Of $7-8.

Wells analyst says, "We believe Kodiak is a Bakken pure play with an impressive growth outlook and attractive valuation. Our initial EPS estimates for 2010 are $0.05 versus the Street, at $0.06, and our 2011 EPS estimate is $0.50 versus the Street, at $0.38. Our valuation range is $7-8 per share based on our net asset value estimate of $6.94."

For more ratings news on Kodiak Oil & Gas click here and for the rating history of Kodiak Oil & Gas click here.

Shares of Kodiak Oil & Gas closed at $6.50 yesterday, with a 52 week range of $2.03-$4.55.

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