Market Overview

UPDATE: Canaccord Genuity Initiates Energy XXI Limited at Buy on Asset Base, Cash Flow

Related EXXI
Kyle Bass Exits Facebook, Ups General Motors Holdings
Mid-Day Market Update: ACCO Brands Jumps On Upbeat Results; American Realty Shares Slide
Energy XXI to Buy EPL Oil & Gas for $1.53B (Fox Business)

Canaccord Genuity initiated coverage on Energy XXI Limited (NASDAQ: EXXI) with a Buy rating and a $44 price target.

Canaccord Genuity commented, "We like EXXI for its oil-weighted asset base, consistent cash generation, and potential upside from its ultra-deep program, which is getting closer to becoming a contributor to reserves and production. … The company continues to exploit its deep inventory of oil-weighted core shelf prospects acquired from Exxon Mobil Corporation in December 2010, with most results to date exceeding expectations. EXXI has a deep portfolio of prospects capable of driving production for years to come."

Energy XXI Limited closed at $33.30 on Wednesday.

Latest Ratings for EXXI

DateFirmActionFromTo
Nov 2014CitigroupMaintainsNeutral
Nov 2014Canaccord GenuityMaintainsBuy
Oct 2014Global HunterUpgradesNeutralBuy

View More Analyst Ratings for EXXI
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (EXXI)

Around the Web, We're Loving...

Get Benzinga's Newsletters