Mizuho Securities Upgrades Denbury Resources (DNR) to Buy
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Mizuho Securities upgraded Denbury Resources (NYSE: DNR) from Neutral to Buy with a price target of $4.50 (from $2.00).
Analyst Tim Rezvan comments "Denbury represents pure oil "torque" with outsized exposure to resurgent Brent crude pricing. Emerging operational catalysts, buttressed by our new $60+ Brent forecast, dramatically improves the CF growth outlook and increases the chances that new tertiary projects can be developed."
Shares of Denbury Resources closed at $2.43 Friday.
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