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UPDATE: Miller Tabak Initiates Bonanza Creek Energy with Buy, $28 PT on Catalyst and Growth Outlook

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MLV & Co Believes Catalyst Program Appears Promising For Bonanza Creek Energy
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Miller Tabak initiated its coverage on Bonanza Creek Energy (NYSE: BCEI) with a Buy rating and a price target of $28 a share.

Miller Tabak noted, "Bonanza Creek is a Denver-based independent exploration and production company with over 81,000 acres in the Rocky Mountains and the Mid-Continent. Core operating areas are the DJ Basin in Colorado (Wattenberg Field) and the Cotton Valley in southern Arkansas. BCEI trades at just 4.2x 2012 EV/EBITDA and 2.6x 2013 EV/EBITDA, offering 75% upside to our price target. We recommend buying BCEI before upcoming catalysts as Bonanza Creek enters a period of rapid growth."

Bonanza Creek closed at $17.33 on Wednesday.

Latest Ratings for BCEI

DateFirmActionFromTo
Nov 2014Imperial CapitalMaintainsOutperform
Oct 2014WunderlichMaintainsBuy
Sep 2014Imperial CapitalInitiates Coverage onOutperform

View More Analyst Ratings for BCEI
View the Latest Analyst Ratings

Posted-In: Miller TabakAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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