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Fly News Breaks for February 4, 2019
LONE
Feb 4, 2019 | 09:08 EDT
Cowen analyst Gabe Daoud initiated Lonestar Resources with an Outperform rating, stating that the company has a proven track record of accretive Eagle Ford acquisitions at dollar-per-acre prices notably below the market average. He views their acquisition strategy favorably and sees the company continuing to boost net asset value and inventory at attractive valuations going forward. He also believes the company is positioning itself for an eventual takeout as larger peers become inventory starved in the Eagle Ford over the next few years. Daoud has a $7.50 price target on Lonestar Resources shares.