C.K. Cooper Maintains Endeavour International Buy, Increases PT to $17

C.K. Cooper maintained its Endeavour International (NYSE: END) Buy rating and increased its Endeavour price target from $16 to $17 in a research report published today.

In the report, C.K. Cooper states, "END announced that it plans to purchase 50,000 net operated, 100% working interest acres in the Marcellus Shale play from SM Energy (NYSE: SM) and minor interest holders for $110MM or $2,200/ACRE. The deal appears to be a positive development for END, enhancing the firm's land portfolio in a prospective gas development area at a fairly low cost."

Shares of Endeavour International closed today at $14.24, down 13.12% from Friday's market close.