Market Overview

UPDATE: J.P. Morgan Upgrades Whiting Petroleum to Overweight on Catalysts, Valuation

Related WLL
UPDATE: Wunderlich Securities Reiterates On Whiting Petroleum Following News Of Kodiak Acquisition
Dow Sets New Intraday High; Citigroup Impresses With Earnings

In a report published Monday, J.P. Morgan analyst Joseph Allman upgraded the rating on Whiting Petroleum Corp. (NYSE: WLL) from Neutral to Overweight, and raised the price target from $62.50 to $65.00.

In the report, Allman noted, “WLL is trading at a discount on both a NAV and multiples basis with near-term catalysts, so we think the stock will outperform. We rate the stock Overweight. Our model could be conservative if the company has success testing the higher-density pilot programs in the Williston Basin, accelerating in the Niobrara (Redtail), testing the horizontal Red River concepts, and testing the Hz prospects in the Permian (Big Tex). Positive news on potential asset monetizations (Postle field, MLP of midstream assets, and others) also could help the stock.”

Whiting Petroleum Corp. closed on Friday at $47.52.

Posted-In: J.P. MorganAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (WLL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free