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UPDATE: Stifel Nicolaus Downgrades Bonanza Creek Energy to Hold on Lower NAV Estimates

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Stifel Nicolaus downgraded Bonanza Creek Energy (NYSE: BCEI) from Buy to Hold and removed the price target of $35.00.

Stifel Nicolaus analyst Michael Scialla wrote, "We are adjusting our Niobrara type curve based on production data from 22 horizontal wells completed since 1/1/2011. […] YTD, the stock (+49%) has significantly outperformed our peer group (+14%) and is now valued at a 44% premium (11% discount on EV/2013E EBITDA and 97% premium on price/NAV). While BCEI's high quality assets, strong balance sheet and robust growth justify a premium valuation, in our view, the stock price largely reflects 40-acre spacing, which is the primary near-term catalysts for the shares."

Bonanza Creek Energy closed at $41.50 on Monday.

Latest Ratings for BCEI

DateFirmActionFromTo
May 2016Imperial CapitalDowngradesIn-lineUnderperform
May 2016MacquarieDowngradesNeutralUnderperform
Mar 2016Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for BCEI
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Downgrades Analyst Ratings

 

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