Canaccord Genuity Maintains a 'Buy' on Sanchez Energy (SN); Infused
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Price: $180.76 +0.43%
Rating Summary:
14 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Sanchez Energy (NYSE: SN) price target of $38.00 (from $36.00).
Analyst, John Gerdes, said, "We are raising our target price as the cost of capital of the convertible preferred financing is superior to our expectation of a common equity transaction...This liquidity infusion provides the funding necessary to allow Sanchez to participate in a non-operated two-rig program in the Palmetto area and conduct one-rig programs, respectively, in the Marquis/Maverick areas. In ‘13, the company’s capital plan should approach $300 million."
For an analyst ratings summary and ratings history on Sanchez Energy click here. For more ratings news on Sanchez Energy click here.
Shares of Sanchez Energy closed at $19.03 yesterday.
Analyst, John Gerdes, said, "We are raising our target price as the cost of capital of the convertible preferred financing is superior to our expectation of a common equity transaction...This liquidity infusion provides the funding necessary to allow Sanchez to participate in a non-operated two-rig program in the Palmetto area and conduct one-rig programs, respectively, in the Marquis/Maverick areas. In ‘13, the company’s capital plan should approach $300 million."
For an analyst ratings summary and ratings history on Sanchez Energy click here. For more ratings news on Sanchez Energy click here.
Shares of Sanchez Energy closed at $19.03 yesterday.
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