UPDATE: Deutsche Bank Initiates Coverage on Kodiak Oil & Gas on Peer-Leading Cash Flow Growth
In a report published on Friday, Deutsche Bank analyst Ryan Todd initiated coverage on Kodiak Oil & Gas Corp. <kodiak gas="" oil="" strong=""> (NYSE: KOG) with a Hold rating and a price target of $11.00</kodiak>
In the report, Todd noted, "Like a young, talented player still looking for consistency, Bakken pure-play Kodiak Oil & Gas' extremely high quality assets in the basin have been somewhat overshadowed by a challenging year for execution in 2012. We see significant long-term asset value and peer-leading cash flow growth, but with directional risk to the price of crude, and inherent risk in KOG's back-end loaded 2013 volume growth, we see a balanced risk-reward. Initiate at Hold with a $11/sh price target."
Kodiak Oil & Gas Corp closed on Thursday at $8.94.
Latest Ratings for KOG
|Aug 2014||SunTrust Robinson Humphrey||Maintains||Neutral|
|Aug 2014||RBC Capital||Downgrades||Outperform||Sector Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.