KeyBanc Starts Bonanza Creek Energy (BCEI) at Buy, Sets $20 Price Target
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Price: $56.10 --0%
Rating Summary:
13 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc initiated coverage on shares of Bonanza Creek Energy (NYSE: BCEI) with a Buy rating and a $20 price target Tuesday.
The firm cites "relatively inexpensive valuation, attractive liquids-rich growth opportunities from the Niobrara shale and ample upside to asset value given execution." KeyBanc analyst David Deckelbaum is modeling for growth of 105 percent this year and 54 percent next year, "largely through Wattenberg exploitation, all with healthy balance sheet through year-end 2013 that can be more or less met with the current empty $220 million borrowing base."
KeyBanc sees fourth-quarter earnings of 32 cents per share, FY11 EPS of $1.15 and FY12 EPS of $1.93.
With shares of Bonanza Creek up 1.9 percent to $15.03 Tuesday afternoon, KeyBanc's new price target suggests potential upside of about 33 percent.
For an analyst ratings summary and ratings history on Bonanza Creek Energy click here. For more ratings news on Bonanza Creek Energy click here.
The firm cites "relatively inexpensive valuation, attractive liquids-rich growth opportunities from the Niobrara shale and ample upside to asset value given execution." KeyBanc analyst David Deckelbaum is modeling for growth of 105 percent this year and 54 percent next year, "largely through Wattenberg exploitation, all with healthy balance sheet through year-end 2013 that can be more or less met with the current empty $220 million borrowing base."
KeyBanc sees fourth-quarter earnings of 32 cents per share, FY11 EPS of $1.15 and FY12 EPS of $1.93.
With shares of Bonanza Creek up 1.9 percent to $15.03 Tuesday afternoon, KeyBanc's new price target suggests potential upside of about 33 percent.
For an analyst ratings summary and ratings history on Bonanza Creek Energy click here. For more ratings news on Bonanza Creek Energy click here.
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