UPDATE - Canaccord Genuity Initiates Coverage on Callon Petroleum (CPE) with a Buy; Strategically Repositioning Into a Low-risk, Oily Onshore Producer
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Price: $35.76 --0%
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UPDATE - Canaccord Genuity initiates coverage on Callon Petroleum (NYSE: CPE) with a Buy. PT $7.50.
Canaccord analyst, Marcus Talbert, said, "We are constructive on the company’s oily asset base and transformation potential. Furthermore, Callon has a seasoned management team, a de-risked development strategy and a strong liquidity position. In our view, Callon is well positioned to outperform expectations based on its accelerated transformation schedule and very achievable execution objectives. We believe project execution will drive multiple expansion into 2012 and note that Callon currently trades at a 50% discount to the Permian peer group despite its above-average growth prospects."
To see more ratings on CPE, Click Here
Canaccord analyst, Marcus Talbert, said, "We are constructive on the company’s oily asset base and transformation potential. Furthermore, Callon has a seasoned management team, a de-risked development strategy and a strong liquidity position. In our view, Callon is well positioned to outperform expectations based on its accelerated transformation schedule and very achievable execution objectives. We believe project execution will drive multiple expansion into 2012 and note that Callon currently trades at a 50% discount to the Permian peer group despite its above-average growth prospects."
To see more ratings on CPE, Click Here
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