Canaccord Genuity Reiterates a 'Buy' on Callon Petroleum (CPE); Multiple Permian Delineation Catalysts on Horizon
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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 of $9.50.
Analyst, Marcus Talbert, said, "We are reiterating our rating and target price with greater conviction following detailed insights we picked up during a recent meeting with Callon’s management/operations team. We remain constructive on the company’s emerging oily asset base and onshore transformation potential. In our view, the ‘12 Permian testing activities (Wolfcamp/Cline) have the potential to de-risk a significant amount of resource potential for Callon and drive incremental NAV/share price accretion. We believe CPE’s Permian growth objectives are realistic and onshore project execution should serve as the primary catalyst 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 $5.34 yesterday.
Analyst, Marcus Talbert, said, "We are reiterating our rating and target price with greater conviction following detailed insights we picked up during a recent meeting with Callon’s management/operations team. We remain constructive on the company’s emerging oily asset base and onshore transformation potential. In our view, the ‘12 Permian testing activities (Wolfcamp/Cline) have the potential to de-risk a significant amount of resource potential for Callon and drive incremental NAV/share price accretion. We believe CPE’s Permian growth objectives are realistic and onshore project execution should serve as the primary catalyst 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 $5.34 yesterday.
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