Canaccord Genuity Reiterates a 'Buy' Triangle Petroleum (TPLM); Strategic Capital Shift to Reduce Completion Variability

Canaccord Genuity reiterates a 'Buy' Triangle Petroleum (NYSE: TPLM) price target of $9.00.

Canaccord analyst, Marcus Talbert, says, "We are reiterating our rating and raising our target price following Triangle’s quarterly results and operational update. At present, TPLM remains our “Favorite Bakken Idea” based on its meaningful leverage to the play and near-term operated catalysts. We continue to believe TPLM remains too cheap for a company with its asset base, liquidity position and relative growth potential. In our view, project execution is the key catalyst for outperformance in 2012."

For an analyst ratings summary and ratings history on Triangle Petroleum click here. For more ratings news on Triangle Petroleum click here.

Shares of Triangle Petroleum closed at $0.69 yesterday.

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