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Fly News Breaks for August 27, 2018
WLL
Aug 27, 2018 | 07:07 EDT
SunTrust analyst Neal Dingmann raised his price target on Whiting Petroleum to $75 and kept his Buy rating, saying investor sentiment is shifting from Redtail to cashflow, which is a positive as the company's free cash flow trajectory should reach over $200M next quarter form $100M last quarter. The analyst also cites potential upcoming catalysts in "generation 4 tests at Cassandra/Wild Rose/Pronghorn ahead and a rig expected to move to the recently acquired bolt-on acreage, along with incremental notable wells around the recent strong Bartelson Federal 44 well". Dingmann edges up his valuation multiple of enterprise value to expected EBITDA of 5.5-times vs. 5.4-times prior.
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