BMO Capital Markets raised its price target for Oasis Petroleum Inc. OAS from $30 to $35 with a Market Perform rating.
BMO capital Markets noted, "we are raising our target price to $35, in line with our risked NAV analysis. We show the shares trading at <5.0x forward EBITDA. Cheap. We show the shares discounting less than $6,000 per acre without adjusting for proved reserve value and valuing current production at $75k per flowing barrel. Cheap. We show the shares valuing our resource potential estimate at only $11.00/BOE. Cheap."
Oasis Petroleum closed at $30.13 on Wednesday.
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