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MLV & Co Sees Multiple Positive Catalysts For Gastar Exploration

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UPDATE: MLV & Co Reiterates On Gastar Exploration As Equity Offering Removes Liquidity Risk
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In a report published Monday, MLV & Co analyst Chad Mabry reiterated a Buy rating and $11.00 price target on Gastar Exploration (NYSE: GST).

In the report, MLV & Co noted, “GST reported Q2'14 adj. EPS of $0.12, beating both the $0.02 consensus and our $0.01 estimate. CFPS of $0.30 also topped the $0.24 consensus and our $0.21. Q2'14 production of 56.8 MMcfe/d (52% gas) was at the high end of guidance and 8% above our forecast on better-than-expected liquids volumes. Note that the company benefited from a $10.6 million arbitration settlement related to a natural gas contract. While we would normally treat this item as non-recurring, in this case we are including it in our numbers as operating expenses were also adjusted, resulting in an apples-and-apples accounting.”

Gastar Exploration closed on Friday at $7.44.

Latest Ratings for GST

Oct 2014WunderlichMaintainsBuy
Oct 2014KeyBancMaintainsBuy
Sep 2014MLV & CoMaintainsBuy

View More Analyst Ratings for GST
View the Latest Analyst Ratings

Posted-In: Chad Mabry MLV & CoAnalyst Color Reiteration Analyst Ratings


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