UPDATE: EF Hutton Starts PEDEVCO Corp (PED) at Buy

January 27, 2022 4:54 PM EST
Get Alerts PED Hot Sheet
Price: $1.24 -1.59%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 19 | New: 10
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(Updated - January 27, 2022 4:55 PM EST)

EF Hutton analyst Ben Piggott initiates coverage on PEDEVCO Corp (NYSE: PED) with a Buy rating and a price target of $2.00.

The analyst comments "We are initiating coverage of PEDEVCO with a Buy rating and a price target of $2.00,which is based on a 4x multiple of 2022 cash flow, assuming a crude oil price of$80 a barrel. We believe that the company has two compelling assets that generate solid rates of return at current commodity prices and has a balance sheet that is exceptionally well positioned to execute on its development plan for this year."

For an analyst ratings summary and ratings history on PEDEVCO Corp click here. For more ratings news on PEDEVCO Corp click here.

Shares of PEDEVCO Corp closed at $1.15 yesterday.

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