Deutsche Bank Starts Bill Barrett (BBG) at Hold; Midst of Transition

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April 12, 2012 7:20 AM EDT
Get Alerts BBG Hot Sheet
Price: $4.84 --0%

Rating Summary:
    5 Buy, 15 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 23 | New: 22
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Deutsche Bank initiates coverage on Bill Barrett (NYSE: BBG) with a Hold. PT $30.00.

Deutsche analyst said, "Like many of its gassy peers, Bill Barrett is in the midst of a transition towards oil, centered around the Uinta Basin oil play. Strong returns and ramping activity (Uinta will make up 50% of total rig count by 2H12) will shift the production mix from under 10% oil to 20% oil by 2014 and support steady cash flow growth, even in a flat commodity environment. However, limits to further acceleration in the Uinta (permitting, takeaway) and a widening funding gap will keep gas price in the forefront for now."

For an analyst ratings summary and ratings history on Bill Barrett click here. For more ratings news on Bill Barrett click here.

Shares of Bill Barrett closed at $22.86 yesterday.

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