KeyBanc Starts Parsley Energy (PE) at Overweight

KeyBanc initiated coverage on Parsley Energy (NYSE: PE) with an Overweight rating and a price target of $21.

Analyst Chris Stevens said, "We like PE’s exposure to the core of the Wolfcamp A&B that has continued to exhibit improvements and outperform its type curve over time, which helps drives one of the highest production growth rates among the Permian group while maintaining a strong balance sheet and hedge position. Valuation trades at a discount to the Permian peer group."

For an analyst ratings summary and ratings history on Parsley Energy click here. For more ratings news on Parsley Energy click here.

Shares of Parsley Energy closed at $16.25 yesterday.

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