Market Overview

UPDATE: BMO Capital Markets Upgrades Whiting Petroleum to Outperform on Valuation Upside

Share:
Related WLL
Watch These 10 Huge Call Purchases In Tuesday Trade
Jim Cramer Shares His Thoughts On Whiting Petroleum, RR Donnelley, Donnelley Financial And LSC Communications

BMO Capital Markets upgraded Whiting Petroleum (NYSE: WLL) from Market Perform to Outperform and raises the price target from $50.00 to $60.00.

BMO Capital Markets commented, "Whiting is one of the more polarizing E&P stories in which there is much debate and disagreement around the company's outlook primarily in terms of inventory and growth potential. We took an in-depth look at the main bull and bear cases for Whiting and have concluded that the outlook for the company is more positive than most believe. … Based on our analysis of its growth outlook, we believe WLL shares have upside on a valuation basis and currently trade at a ~2-3x P/CF and EV/EBITDA multiple discount to peers and at a discount to our $54 after-tax NYMEX NAV."

Whiting Petroleum closed at $49.31 on Wednesday.

Latest Ratings for WLL

DateFirmActionFromTo
Dec 2016Wells FargoDowngradesOutperformMarket Perform
Dec 2016Stifel NicolausUpgradesHoldBuy
Nov 2016KeyBancMaintainsOverweight

View More Analyst Ratings for WLL
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (WLL)

View Comments and Join the Discussion!