Canaccord Genuity Assumes Coverage on Voyager Oil & Gas (VOG) at Buy; High-Beta Play for Second-Half Bakken Bounce Back

Canaccord Genuity assumes coverage on Voyager Oil & Gas (NYSE: VOG) with a Buy. PT lowered from $5.50 to $5.00.

Canaccord analyst, Marcus Talbert, said, "We assume coverage of Voyager Oil & Gas, maintaining a BUY rating and with a revised $5 target price. At present, we believe the market does not fully appreciate Voyager’s core Bakken position, and we believe the stock is too cheap for a company with its asset base and relative growth potential. In our view, the company’s acreage and development strategy should drive material NAV accretion into 2012. The most important upcoming catalysts include a potential Niobrara divestiture and continued organic leasing activity."

For more ratings news on Voyager Oil & Gas click here and for the rating history of Voyager Oil & Gas click here.

Shares of Voyager Oil & Gas closed at $2.39 yesterday.

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