Canaccord Genuity Assumes Coverage on Oasis Petroleum (OAS) at Buy; Positioning Asset Base to Accelerate Growth in 2012

Canaccord Genuity assumes coverage on Oasis Petroleum (NYSE: OAS) with a Buy. PT lowered from $39 to $36.

Canaccord analyst, Marcus Talbert, said, "We assume coverage of Oasis Petroleum, maintaining a BUY rating with a revised $36 target price. In our view, Oasis is attractively priced for a company with its proven management team and relative growth potential. OAS currently trades at a 12% discount to the Bakken peer group (EV/EBITDAX). We believe project management initiatives and completion advancements will narrow the valuation gap and drive NAV accretion into 2012."

For more ratings news on Oasis Petroleum click here and for the rating history of Oasis Petroleum click here.

Shares of Oasis Petroleum closed at $27.37 yesterday.

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