UPDATE: Global Hunter Securities Upgrades Copano Energy to Neutral Following Q2 Results

Global Hunter Securities upgraded its rating on Copano Energy CPNO from Reduce to Neutral and raised its price target from $26 to $30. Global Hunter Securities said, "Quarterly results were better than anticipated and 2013 guidance was likewise greater than we envisioned. That being said, we are not getting more aggressive here given that we believe the company needs additional equity and units have had a healthy run going into the results release. We have underestimated the hedge impact and therefore sensitivity to NGL prices. We look to reevaluate units upon an equity raise." Copano Energy closed at $29.94 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesIntraday UpdateAnalyst RatingsGlobal Hunter Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!