Canaccord Genuity Reiterates a 'Buy' on Callon Petroleum (CPE); 2012 Wolfcamp Plans
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Price: $35.76 --0%
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Callon Petroleum (NYSE: CPE) price target raised to $9.00.
Analyst, Marcus Talbert, said, "We are reiterating our rating and PT following Callon’s year-end operational update and horizontal development announcement. We remain constructive on the company’s oily asset base and onshore transformation potential. In our view, the ‘12 testing activities (Wolfcamp/Cline/Strawn) have the potential to de-risk a meaningful amount of resource potential for Callon and generate an incremental $2.00 per share of NAV accretion. We think Callon’s Permian growth objectives are realistic and onshore project execution should serve as the primary catalyst for multiple expansion in ‘12."
For an analyst ratings summary and ratings history on Callon Petroleum click here. For more ratings news on Callon Petroleum click here.
Shares of Callon Petroleum closed at $7.72 yesterday.
Analyst, Marcus Talbert, said, "We are reiterating our rating and PT following Callon’s year-end operational update and horizontal development announcement. We remain constructive on the company’s oily asset base and onshore transformation potential. In our view, the ‘12 testing activities (Wolfcamp/Cline/Strawn) have the potential to de-risk a meaningful amount of resource potential for Callon and generate an incremental $2.00 per share of NAV accretion. We think Callon’s Permian growth objectives are realistic and onshore project execution should serve as the primary catalyst for multiple expansion in ‘12."
For an analyst ratings summary and ratings history on Callon Petroleum click here. For more ratings news on Callon Petroleum click here.
Shares of Callon Petroleum closed at $7.72 yesterday.
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