KeyBanc Raises Price Target & Estimates on Petrohawk (HK) Following IPAA Presentation
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Price: $0.16 --0%
Rating Summary:
2 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 14 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc is maintaining its Buy rating and is raising its price target from $28 to $36 on shares of Petrohawk (NYSE: HK) prior to its Q1 earnings, but following a recent meeting at the IPAA.
The firm believes that HK will top the Streets expectations on May 5 when it reports its earnings. During the IPAA presentation, the company issued a new investor presentation, unveiling new type curves and economics on its core Eagle Ford shale areas.
As a result the firm is adjusting its estimates for production and earnings. KeyBanc is raising its Q1 EPS estimate from $0.12 to $0.15 and its DCFPS from $0.70 to $0.74. The firm is also raising its FY11 and FY12 EPS estimates from $0.79 and $1.28 to $0.90 and $1.73, while its DCFPS estimates move from $3.59 and $4.75 to $3.76 and $5.59.
KeyBanc comments that, "We believe HK has one of the best in class technical teams in the E&P space, and with its increased allocation of capital to the liquids-rich Eagle Ford going forward, we believe HK is one of the best gas-to-liquids transition names to own."
For more ratings news on Petrohawk click here and for the rating history of Petrohawk click here.
Shares of Petrohawk closed at $26.00 yesterday.
The firm believes that HK will top the Streets expectations on May 5 when it reports its earnings. During the IPAA presentation, the company issued a new investor presentation, unveiling new type curves and economics on its core Eagle Ford shale areas.
As a result the firm is adjusting its estimates for production and earnings. KeyBanc is raising its Q1 EPS estimate from $0.12 to $0.15 and its DCFPS from $0.70 to $0.74. The firm is also raising its FY11 and FY12 EPS estimates from $0.79 and $1.28 to $0.90 and $1.73, while its DCFPS estimates move from $3.59 and $4.75 to $3.76 and $5.59.
KeyBanc comments that, "We believe HK has one of the best in class technical teams in the E&P space, and with its increased allocation of capital to the liquids-rich Eagle Ford going forward, we believe HK is one of the best gas-to-liquids transition names to own."
For more ratings news on Petrohawk click here and for the rating history of Petrohawk click here.
Shares of Petrohawk closed at $26.00 yesterday.
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