UPDATE: Dahlman Rose Reduces PT to $35 on Energy XXI on Increased Growth Confidence

Dahlman Rose reiterates its Buy rating on Energy XXI

but lowers its price target from $44 to $35. Dahlman Rose notes, "We are maintaining our Buy rating following yesterdays analyst day given increased confidence in its growth profile and solid support from its proved reserves. However, adjusting for the current price deck, we are lowering our target to $35 (from $44) which still provides 23% upside." EXXI closed at $28.62 on Tuesday.