Global Hunter Securities Reaffirms a 'Buy' on Energy XXI (EXXI); 2012 is About EXXIcution

Global Hunter Securities reaffirms a 'Buy' on Energy XXI (NASDAQ: EXXI) price target raised from $37 to $39.

Global analyst says, "EXXI posted a strong quarter despite the impact of downtime associated with Tropical Storm Irene. The company's recompletion program continues to impress as wells come on line higher than expected. EXXI also reaffirmed that flow testing of the Davy Jones #1 well is expected to commence in December, and commercial production could begin within 30 days of the test."

For more ratings news on Energy XXI click here and for the rating history of Energy XXI click here.

Shares of Energy XXI closed at $30.93 yesterday.

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