Canaccord Genuity Reiterates a 'Buy' on Kodiak Oil & Gas (KOG); Recalibrating 2012 Expectations

Canaccord Genuity reiterates a 'Buy' on Kodiak Oil & Gas (NYSE: KOG) price target lowered to $12.00.

Analyst, Marcus Talbert, said, "We are reiterating our rating but lowering our price target following Kodiak’s year-end financial and operational updates. While the revised growth outlook for ’12 will initially be viewed as a disappointment, the guidance is in line with our prior estimates and we believe the company’s above-average growth prospects warrant a premium to the Bakken peer group. In our view, Kodiak has the right combination of oil leverage, commitment to growth and superior asset productivity to drive share price appreciation in 2012."

For an analyst ratings summary and ratings history on Kodiak Oil & Gas click here. For more ratings news on Kodiak Oil & Gas click here.

Shares of Kodiak Oil & Gas closed at $9.69 yesterday.

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