KLR Group Downgrades Denbury Resources (DNR) to Hold
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KLR Group downgraded Denbury Resources (NYSE: DNR) from Buy to Hold with a price target of $4.00 (from $0.75).
Analyst Gail Nicholson comments "We are increasing our target price $0.75 to $4 per share driven by a 1% increase in our '18 volume forecast (Grieve Field come online in midApril under budget & ahead of schedule), a ~4% reduction in G&A and slightly higher other revenue. DNR generates a '20 capital yield of ~155% above the group median of ~145%."
Shares of Denbury Resources closed at $3.80 yesterday.
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