Canaccord Genuity Maintains a 'Buy' on EOG Resources (EOG); Q3/11: Strong Operational Execution Underpinned by Eagle Ford/Wolfcamp
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Price: $142.61 --0%
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
29 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
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Canaccord Genuity maintains a 'Buy' on EOG Resources (NYSE: EOG) price target of $152.00.
Canaccord analyst, John Gerdes, said, "We are increasing our target price $1 to $152 per share on minor model refinements. We believe the market is still catching up to the value implication of EOG’s liquids transition and thus we remain buyers despite the recent share price outperformance. Post Q3/11, we increased our ’12 liquids growth expectation 3% to 34% on the back of production momentum in the Eagle Ford and Wolfcamp Shales, where results continue to outpace our expectations. Our growth estimate is 7% above company guidance (27% growth) and, if achieved, should be the driving force behind further share price outperformance."
For an analyst ratings summary and ratings history on EOG Resources click here. For more ratings news on EOG Resources click here.
Shares of EOG Resources closed at $101.17 yesterday.
Canaccord analyst, John Gerdes, said, "We are increasing our target price $1 to $152 per share on minor model refinements. We believe the market is still catching up to the value implication of EOG’s liquids transition and thus we remain buyers despite the recent share price outperformance. Post Q3/11, we increased our ’12 liquids growth expectation 3% to 34% on the back of production momentum in the Eagle Ford and Wolfcamp Shales, where results continue to outpace our expectations. Our growth estimate is 7% above company guidance (27% growth) and, if achieved, should be the driving force behind further share price outperformance."
For an analyst ratings summary and ratings history on EOG Resources click here. For more ratings news on EOG Resources click here.
Shares of EOG Resources closed at $101.17 yesterday.
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