Global Hunter Securities Upgrades Bill Barrett (BBG) to Buy
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Price: $4.84 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Global Hunter Securities upgraded Bill Barrett (NYSE: BBG) from Accumulate to Buy with a price target of $59.00.
The firm states, "After a blowout quarter we are revising estimates and upgrading Bill Barrett from an Accumulate to a Buy rating and maintaining our $59 per share price target. Our price target is based on 6.9x 2011 and 5.7x 2012 expected EBITDA. Currently, BBG is trading at 5.7x 2011 EBITDA. BBG once stood for Big Bad Gas and now apparently stands for Big Bad Growth. Not only is growth now coming from full-year drilling activity at West Tavaputs but with the inclusion of oil plays such as Blacktail Ridge/East Bluebell/Lake Canyon in the Uinta as well as a growing presence in the Niobrara, the company's production growth is magnified when looking at the company's financial metrics due to the relative oil price."
For more ratings news on Bill Barrett click here and for the rating history of Bill Barrett click here.
Shares of Bill Barrett closed at $46.52 yesterday.
The firm states, "After a blowout quarter we are revising estimates and upgrading Bill Barrett from an Accumulate to a Buy rating and maintaining our $59 per share price target. Our price target is based on 6.9x 2011 and 5.7x 2012 expected EBITDA. Currently, BBG is trading at 5.7x 2011 EBITDA. BBG once stood for Big Bad Gas and now apparently stands for Big Bad Growth. Not only is growth now coming from full-year drilling activity at West Tavaputs but with the inclusion of oil plays such as Blacktail Ridge/East Bluebell/Lake Canyon in the Uinta as well as a growing presence in the Niobrara, the company's production growth is magnified when looking at the company's financial metrics due to the relative oil price."
For more ratings news on Bill Barrett click here and for the rating history of Bill Barrett click here.
Shares of Bill Barrett closed at $46.52 yesterday.
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