UPDATE: Wunderlich Securities Reiterates On Triangle Petroleum Following Solid F1Q15 Results

In a report published Wednesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating on

, and raised the price target from $12.00 to $14.00. In the report, Wunderlich Securities noted, “Triangle Petroleum Corp. (TPLM) yesterday announced solid F1Q15 results as EPS of $0.12 was just below our $0.14 estimate and in-line with the Street's $0.12 forecast. Strong revenues from the E&P business and expansions at Rock Pile drove results as revenues approached $100 million and solid EBITDA and cash flow figures (both on a consolidated and stand-alone basis) show the strong asset base of Triangle. "We continue to believe there is ample value within Triangle that many miss given the consolidated nature of its financials, which hide the strong value in both Rock Pile (especially as the oil field services market seemingly is improving) and Caliber as the midstream/infrastructure of the Williston remains in demand and being provided in part by Triangle as it grows production, too.” Triangle Petroleum closed on Tuesday at $10.30.