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Fly News Breaks for June 12, 2015
PVA
Jun 12, 2015 | 08:05 EDT
After meeting with Penn Virginia's management, RBC Capital says that private equity firms have expressed interest in the company's East Texas assets. The firm thinks these assets could be sold for $40M-$60M. RBC adds that the company's budget targets neutral free cash flow in 2H15, while it is considering improving its leverage ratios through sales of non-core assets, joint ventures and equity raises. RBC keeps a $7 price target and Outperform rating on the shares.
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