Brean Murray Carret & Co. Starts Penn Virginia (PVA) at Buy; Conservative Liquids Production Guidance

Brean Murray Carret & Co. initiates coverage on Penn Virginia (NYSE: PVA) with a Buy. PT $10.00.

Analyst, Raymond Deacon, said, "...Proceeds from the company's anticipated Granite Wash divestiture should shift market focus from liquidity concerns to the value of its Eagle Ford oil window acreage. The sale announcement, expected in early Q3, provides the most impactful near-term catalyst, followed by Eagle Ford acreage de-risking fro mthe 4 Lavaca County and 17 Gonzales County wells that PVA plans to drill in the remainder of 2012."

For an analyst ratings summary and ratings history on Penn Virginia click here. For more ratings news on Penn Virginia click here.

Shares of Penn Virginia closed at $4.82 yesterday.

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