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Fly News Breaks for December 14, 2018
BCEI
Dec 14, 2018 | 07:02 EDT
SunTrust analyst Welles Fitzpatrick initiated Bonanza Creek with a Hold rating and a price target of $25, calling the stock a "Watterberg pure play" given its 67K net acres on the eastern flank. The analyst notes that the company's leverage and enterprise value-to-expected EBITDA valuation are toward the "low end" among its regional peers, and also sees the performance of its wells "improving quickly" with a "valuable midstream component" that could be valued up to $200M.
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