Close

UPDATE: Stifel Upgrades PDC Energy (PDCE) to Buy

May 21, 2020 5:06 AM EDT
Get Alerts PDCE Hot Sheet
Price: $73.85 --0%

Rating Summary:
    23 Buy, 12 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
(Updated - May 21, 2020 5:19 AM EDT)

(updating comment)

Stifel analyst Michael Scialla upgraded PDC Energy (NASDAQ: PDCE) from Hold to Buy with a price target of $21.00 (from $14.00).

The analyst comments "We are raising our rating to Buy from Hold and our target to $21 from $14 as a recent oil price improvement reduces our concern over the company's potential reliance on its credit facility to fund a near-term debt maturity. Strong FCF generation should fund an upcoming maturity, bolster a solid balance sheet, and cause the stock's 40% discount to our mid-cap peer group to narrow."

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

Shares of PDC Energy closed at $12.66 yesterday.


You May Also Be Interested In





Related Categories

Analyst Comments, Analyst PT Change, Upgrades

Related Entities

Stifel