Loading...
Loading...
Wunderlich Securities reduced its rating on Berry Petroleum
BRY from Buy to Hold and lowered its price target from $49 to $40.
Wunderlich Securities noted, "Berry again had to lower 2012 production guidance due to the Diatomite being behind schedule and the Permian having production constraints. While the Diatomite looks to be growing at a solid pace, now we have pulled our estimates down heading into 2013 on a company-wide basis as a slowdown in the Permian, worries of continued issues in California, and an uncertain ramp in the Uinta make us cautious as to the oil production growth."
Berry Petroleum closed at $34.00 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in