KeyBanc Upgrades EXCO Resources (XCO) to Buy; Possible Catalysts From Pending Divestiture and M&A
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Price: $8.55 +0.83%
Rating Summary:
1 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
1 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade XCO Now!
KeyBanc upgraded EXCO Resources (NYSE: XCO) from Hold to Buy with a price target of $10.00.
Analyst, Jack N. Aydin, said, "XCO has a number of potential transactions that are on the cusp of being consummated, which could provide significant catalysts for shares if executed to plan. XCO is negotiating the sale of TGGT, its midstream asset, which it owns 50/50 with BG Group, and is also exploring a possible joint venture on the Company's conventional gas assets with a number of interested parties. A joint venture would not only provide a liquidity event but could also be a vehicle for further opportunistic acquisitions of conventional gas assets that are depressed in today's natural gas pricing environment."
Estimates Adjusted: 2012E: EPS from $0.04 to $0.16 (Consensus at a loss of $0.02); DCPS from $1.81 to $1.76 (Consensus at $1.69)...2013E: EPS from a loss of $0.01 to $0.04 (Consensus at a loss of $0.06); DCPS from $1.70 to $1.53 (Consensus at $1.42).
For an analyst ratings summary and ratings history on EXCO Resources click here. For more ratings news on EXCO Resources click here.
Shares of EXCO Resources closed at $7.08 yesterday, with a 52 week range of $5.65-$20.63.
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Analyst, Jack N. Aydin, said, "XCO has a number of potential transactions that are on the cusp of being consummated, which could provide significant catalysts for shares if executed to plan. XCO is negotiating the sale of TGGT, its midstream asset, which it owns 50/50 with BG Group, and is also exploring a possible joint venture on the Company's conventional gas assets with a number of interested parties. A joint venture would not only provide a liquidity event but could also be a vehicle for further opportunistic acquisitions of conventional gas assets that are depressed in today's natural gas pricing environment."
Estimates Adjusted: 2012E: EPS from $0.04 to $0.16 (Consensus at a loss of $0.02); DCPS from $1.81 to $1.76 (Consensus at $1.69)...2013E: EPS from a loss of $0.01 to $0.04 (Consensus at a loss of $0.06); DCPS from $1.70 to $1.53 (Consensus at $1.42).
For an analyst ratings summary and ratings history on EXCO Resources click here. For more ratings news on EXCO Resources click here.
Shares of EXCO Resources closed at $7.08 yesterday, with a 52 week range of $5.65-$20.63.
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