Credit Suisse Downgrades Emerald Oil (EOX) to Neutral
- Wall Street ends down as data spooks investors awaiting Fed report
- Roblox (RBLX) Lower as DAUs Fall Sequentially
- DraftKings (DKNG) Plunges as Hindenburg's Report Indicates Betting Company's Links to Black Market Operations
- Oracle (ORCL) Tops Q4 EPS by 23c
- U.S. retail sales take step back as spending pivots to services, trend remains strong
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."
Shares of Emerald Oil closed at $0.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Downgrades Cimarex Energy (XEC) to Neutral
- Asahi Kasei Corp. (3407:JP) (AHKSY) PT Raised to JPY1,130 at UBS
- UPDATE: Mizuho Securities Starts Squarespace (SQSP) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!