UPDATE: Morgan Stanley Downgrades Bonanza Creek Energy to Equal-Weight; Balanced Risk/Reward
Morgan Stanley says it downgrades Bonanza Creek Energy (NYSE: BCEI) to Equal-weight from Overweight and maintains its price target on shares at $22.
Morgan Stanley notes, "BCEI has established itself as a solid operator, posting good results. Yet we think stock has limited upside relative to peers, as its Niobrara inventory appears to be largely priced in."
BCEI closed at $19.98 on Monday.
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