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

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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

DateFirmActionFromTo
May 2015Credit SuisseMaintainsNeutral
May 2015JP MorganMaintainsOverweight
Apr 2015Tudor PickeringDowngradesAccumulateHold

View More Analyst Ratings for CIE
View the Latest Analyst Ratings

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

 

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