UPDATE: Dahlman Rose Reduces PT to $35 on Energy XXI on Increased Growth Confidence
Dahlman Rose reiterates its Buy rating on Energy XXI (NASDAQ: EXXI) 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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.