Market Overview

Sterne Agee Reiterates Buy Rating, $20 PT on Denbury Resources

Related DNR
RBC Capital Technicians Like Financials And Tech, Sees Asset Managers Weakening
The U.S. Shale Producers Operating With Unsustainable Debt
Exxon, Chevron outlooks cut to Negative by S&P (Seeking Alpha)

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $20.00 price target on Denbury Resources (NYSE: DNR).

Sterne Agee noted, “Denbury announced it closed its Bakken sale/swap on Monday. With final figures emerging, we are increasingly positive on the deal. Denbury received ownership of producing CO2 properties, providing optionality on the timing of CO2 spending at Riley Ridge, and setting a tax leakage ceiling at ~$400 million. With the Greencore Pipeline completed on schedule, Denbury's Rockies' development continues to gain momentum. We reiterate our Buy rating and $20 PT.”

Denbury Resources closed on Monday at $16.29.

Latest Ratings for DNR

Oct 2015UBSMaintainsSell
Sep 2015Credit SuisseDowngradesNeutralUnderperform
Sep 2015Cowen & CompanyDowngradesOutperformMarket Perform

View More Analyst Ratings for DNR
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Reiteration Analyst Ratings


Related Articles (DNR)

View Comments and Join the Discussion!

Get Benzinga's Newsletters