Credit Suisse Downgrades Emerald Oil (EOX) to Neutral

January 23, 2015 7:16 AM EST
Get Alerts EOX Hot Sheet
Price: $1.37 --0%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 8 | New: 61
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Credit Suisse downgraded Emerald Oil (NYSE: EOX) from Outperform to Neutral. Analyst M. Lear comments, "While E&P equities have historically been strong performers when cyclical fundamentals for oil reach an inflection point, the stocks appear to be discounting longer-term oil prices in the mid-$60s. Currently, the group is trading at 5.6x our 2016E EV/EBITDA estimates, in-line with the group's long-term trading range. However, the group is at 8.9x 16E EBITDA on an unhedged basis at the strip. Judging from group valuations, we believe it's still too early to buy E&P equities as we see a better entry point in late Q115."

For an analyst ratings summary and ratings history on Emerald Oil click here. For more ratings news on Emerald Oil click here.

Shares of Emerald Oil closed at $0.83 yesterday.

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