Market Overview

UPDATE: ISI Group Upgrades Cobalt International Energy to Strong Buy on Attractive Valuation

Related CIE
Markets Open Lower; Coach Posts Upbeat Profit
Morgan Stanley Sees Support For Positive View of Cobalt International Energy

In a report published Monday, ISI Group analyst Jon Wolff upgraded the rating on Cobalt International Energy (NYSE: CIE) from Buy to Strong Buy.

In the report, ISI Group noted, “We are upgrading our rating on Cobalt International Energy (CIE) to Strong Buy from Buy due to an attractive valuation and our view of a favorable risk-reward in front of four high-impact sub-salt tests currently drilling as well as Shell's Yucatan well test (inboard lower tertiary in the DW GOM) which could extend the discovery size of Shenandoah (CIE, 20%) if it proves to be a shared reservoir. The Lontra prospect in Angola Block 20 is drilling ahead and is one of the largest potential test well in the world in 2013.”

Cobalt International Energy closed on Friday at $25.94.

Latest Ratings for CIE

Aug 2014Capital One FinancialDowngradesOverweightEqual-weight
Aug 2014Credit SuisseMaintainsNeutral
Jun 2014Brean CapitalInitiates Coverage onBuy

View More Analyst Ratings for CIE
View the Latest Analyst Ratings

Posted-In: ISI Group Jon WolffAnalyst Color Upgrades Analyst Ratings


Related Articles (CIE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters