Jefferies Upgrades Penn Virginia (PVA) to Buy
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Price: $0.15 --0%
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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Jefferies upgraded Penn Virginia (NYSE: PVA) from Hold to Buy and raises their price target form $17 to $19.
The firm states, "Our downgrade a year ago was related to a depleted drilling inventory. Recent efforts in the Eagle Ford – and potentially the Marcellus – will significantly improve PVA's portfolio and oil exposure. With shares trading 30%+ below our proved-only NAV, current valuation does not reflect the improved outlook."
For more ratings news on Penn Virginia click here and for the rating history of Penn Virginia click here.
Shares of Penn Virginia closed at $14.03 yesterday.
The firm states, "Our downgrade a year ago was related to a depleted drilling inventory. Recent efforts in the Eagle Ford – and potentially the Marcellus – will significantly improve PVA's portfolio and oil exposure. With shares trading 30%+ below our proved-only NAV, current valuation does not reflect the improved outlook."
For more ratings news on Penn Virginia click here and for the rating history of Penn Virginia click here.
Shares of Penn Virginia closed at $14.03 yesterday.
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