UPDATE - Canaccord Genuity Upgraded Bill Barrett (BBG) to Buy; Q2/11: Uinta Basin Oil A Game-Changer
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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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UPDATE - Canaccord Genuity upgraded Bill Barrett (NYSE: BBG) from Hold to Buy, price target raised from $58 to $65.
Canaccord analyst, John Gerdes, said, "We are upgrading BBG to BUY and increasing our target price due to accelerated oil development in the Uinta Basin. Success tests of new oil-bearing horizons and recent acquisitions should allow Bill Barrett to more aggressively shift capital from gas to oil development. We expect liquids production to more than double by year-end ’12 while CFPS should rise ~40% to ~$14 in ’13."
Canaccord analyst, John Gerdes, said, "We are upgrading BBG to BUY and increasing our target price due to accelerated oil development in the Uinta Basin. Success tests of new oil-bearing horizons and recent acquisitions should allow Bill Barrett to more aggressively shift capital from gas to oil development. We expect liquids production to more than double by year-end ’12 while CFPS should rise ~40% to ~$14 in ’13."
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