Cowen Upgrades Par Petroleum (PARR) to Outperform

Cowen analyst Jason Gabelman upgraded Par Petroleum (NYSE: PARR) from Market Perform to Outperform with a price target of $21.00 (from $13.00).

The analyst comments "PARR's lower opex and limited capex in 2021-2023 provides a peer-leading cost structure that should help deliver FCF to delever the balance sheet. The recent sale-leaseback derisks a potential liquidity crunch in 1H21. Upside to our PT could come from higher Larmie valuation and/or full benefit from new HI contracts."

For an analyst ratings summary and ratings history on Par Petroleum click here. For more ratings news on Par Petroleum click here.

Shares of Par Petroleum closed at $17.54 yesterday.

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