Canaccord Genuity Reiterates a 'Buy' on Northern Oil and Gas (NOG); Reiterating Oversold Thesis

Canaccord Genuity reiterates a 'Buy' on Northern Oil and Gas (NYSE: NOG), PT $40.

Canaccord analyst says, "We are reiterating our rating and oversold thesis based on Northern Oil’s relative valuation and announced corporate and operational updates. We remain very comfortable with our assessment of the Bakken, our oil and gas accounting and Northern Oil’s valuation. We continue to view this weakness as a buying opportunity given precedent transactions and the company’s proven ability to organically acquire acreage at accretive levels."

For more ratings news on Northern Oil and Gas click here and for the rating history of Northern Oil and Gas click here.

Shares of Northern Oil and Gas closed at $21.38 yesterday.

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