UPDATE: Canaccord Lowers PT on Endeavour International Following North Sea Production Growth

In a report published Wednesday, Canaccord Genuity analyst Stephen Berman reiterated a Buy rating on

, but slightly lowered the price target from $5.00 to $4.50. In the report, Berman noted, “END's production growth, driven by its North Sea operations, was pushed back by at least four months (from early March) due to drilling issues at the Rochelle development. END is enhancing its liquidity position, and we continue to see good long-term value in the company.” Endeavour International Corporation closed on Tuesday at $2.89.