UPDATE: Canaccord Genuity Raises Triangle Petroleum's PT
According to a research report published this morning, Canaccord Genuity has increased Triangle Petroleum's (NYSE: TPLM) PT from $9 to $11.
In the report, Canaccord Genuity said ,"We have transitioned our valuation from a NAVbased approach to a five-year discounted cash flow analysis. Our target includes $2/share related to the pressure pumping unit and is penalized in our analysis by the inclusion of additional equity to properly capitalize the business."
Canaccord Genuity maintains its Buy rating on Triangle Petroleum, which closed yesterday at $5.95.
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