TD Newcrest Starts Lone Pine Resources (LPR) at Buy; Increasing Oil Production Highlights LPR Strategy

TD Newcrest initiates coverage on Lone Pine Resources (NYSE: LPR) with a Buy. PT $10.50.

TD analyst says, "Lone Pine’s asset base offers investors liquids growth potential with what we consider a solid gas production base. We believe that the company has multiple years of oil growth in its Evi play, with an option to move back to gas growth with its Deep Basin Nikanassin play if gas prices recover. In our forecast, the company modestly grows production per share y/y, but is one of the highest growing companies in terms of CFPS growth. Our lower subjective rating reflects its slightly higher-than-average leverage."

For more ratings news on Lone Pine Resources click here and for the rating history of Lone Pine Resources click here.

Shares of Lone Pine Resources closed at $7.82 yesterday.

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