Jefferies Downgrades Ultra Petroleum (UPL) to Hold
Tweet
Share
E-mailGet Alerts UPL Hot Sheet
Price: $0.14 --0%
Rating Summary:
4 Buy, 12 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
Rating Summary:
4 Buy, 12 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 23 | New: 12
Join SI Premium – FREE
Jefferies downgraded Ultra Petroleum (NYSE: UPL) from Buy to Hold with a price target of $22 (down from $27).
The firm comments, "Downgrading to HOLD on bleak production outlook and weak gas price fundamentals. Rising Marcellus service costs continue to pinch IRRs while Pinedale returns appear marginal below $5. Absent a gas price bounce or a southern DJ Basin discovery, UPL should struggle to post debt adjusted production per share growth."
The firm raised Q1 EPS from $0.57 to $0.57, FY12 up from $2.54 to $2.55 and FY13 was cut from $1.76 to $1.49.
For an analyst ratings summary and ratings history on Ultra Petroleum click here. For more ratings news on Ultra Petroleum click here.
Shares of Ultra Petroleum closed at $23.72 yesterday.
The firm comments, "Downgrading to HOLD on bleak production outlook and weak gas price fundamentals. Rising Marcellus service costs continue to pinch IRRs while Pinedale returns appear marginal below $5. Absent a gas price bounce or a southern DJ Basin discovery, UPL should struggle to post debt adjusted production per share growth."
The firm raised Q1 EPS from $0.57 to $0.57, FY12 up from $2.54 to $2.55 and FY13 was cut from $1.76 to $1.49.
For an analyst ratings summary and ratings history on Ultra Petroleum click here. For more ratings news on Ultra Petroleum click here.
Shares of Ultra Petroleum closed at $23.72 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bicara Therapeutics Inc (BCAX) PT Raised to $39 at BTIG
- Freedom Broker Upgrades Alico Inc. (ALCO) to Buy
- Morgan Stanley Upgrades LG Electronics (066570:KS) to Overweight
Create E-mail Alert Related Categories
Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
Jefferies & CoSign 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!
