Canaccord Genuity Reiterates a 'Hold' on PDC Energy (PETD); Improving, Developing, Evolving
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Price: $25.57 +1.91%
Rating Summary:
9 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Hold' on PDC Energy (NASDAQ: PETD) price target lowered to $43.
Analyst, John Gerdes, said, "We are raising our target given a slightly higher liquids composition. With limited upside to our target price, we retain our rating. In the Wattenberg, we were encouraged by improving Niobrara results and planned attempts to increase resource recovery through downspacing and Codell development. In the Utica, title work is progressing though we await well results."
"PETD’s valuation applies a 15% discount rate to determine the net present value of its free cash flow. Our reasoning for using a 15% equity return includes the long-term nominal performance of the broader equity market (10-12%), the greater inherent volatility of cyclical energy investments, and the company’s market capitalization below $2 billion (i.e. small-cap)."
For an analyst ratings summary and ratings history on PDC Energy click here. For more ratings news on PDC Energy click here.
Shares of PDC Energy closed at $38.70 yesterday.
Analyst, John Gerdes, said, "We are raising our target given a slightly higher liquids composition. With limited upside to our target price, we retain our rating. In the Wattenberg, we were encouraged by improving Niobrara results and planned attempts to increase resource recovery through downspacing and Codell development. In the Utica, title work is progressing though we await well results."
"PETD’s valuation applies a 15% discount rate to determine the net present value of its free cash flow. Our reasoning for using a 15% equity return includes the long-term nominal performance of the broader equity market (10-12%), the greater inherent volatility of cyclical energy investments, and the company’s market capitalization below $2 billion (i.e. small-cap)."
For an analyst ratings summary and ratings history on PDC Energy click here. For more ratings news on PDC Energy click here.
Shares of PDC Energy closed at $38.70 yesterday.
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