Capital One Southcoast Upgrades Petrohawk Energy (PK) to Strong Buy
Capital One Southcoast upgrades Petrohawk Energy (NYSE: PK) from Add to Strong Buy. Price target raised from $30 to $34.
Capital One analyst says, "With 49% upside to our NAV, HK has more upside than any other large- or mid-cap stock in our universe. Its two main plays (Haynesville and Eagle Ford) keep exceeding expectations. We think the company will continue its track of beating production guidance and its potential near-term Permian basin sale (~$300MM expected) should lower the likelihood of needing equity. The company has hedged 70% of 2010 gas production with floors of $6 and ceilings of $9, which helps protect cash flows given the uncertainty around 2010 pricing."
To see more analyst ratings on HK Click Here.
Petrohawk Energy Corporation engages in the exploration, development, and production of oil and natural gas properties in the United States.
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