Market Overview

UPDATE: Oppenheimer Upgrades LRR Energy to Outperform on Anticipated Acquisition

Share:
Related LRE
Mid-Afternoon Market Update: Dot Hill Jumps On Acquisition News; Canadian Solar Shares Decline
Lower Oil? No Problem For These Stocks

Oppenheimer raised its rating on LRR Energy (NYSE: LRE) from Perform to Outperform with a $24 price target.

Oppenheimer said, "We are upgrading LRE shares to an Outperform rating and are assigning a $24 price target as we anticipate accretive acquisitions in 1H13 will boost investor confidence in the company's growth outlook. By reaching the one-year anniversary of its IPO, LRE will be S-3 eligible this December, allowing it to issue equity, increase its float and execute its acquisition strategy. We believe these actions will act as the next catalysts to lift the stock. The 9.9% yield and upcoming catalysts provide an attractive entry point for investors, in our opinion. Our estimate changes reflect updated commodity prices."

LRR Energy closed at $19.08 on Wednesday.

Latest Ratings for LRE

DateFirmActionFromTo
Jun 2015WunderlichUpgradesHoldBuy
Mar 2015CitigroupMaintainsNeutral
Mar 2015UBSDowngradesNeutralSell

View More Analyst Ratings for LRE
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (LRE)

View Comments and Join the Discussion!