Wunderlich Securities Sees Multiple Catalysts From XRL Plans For Bill Barrett

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In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $40.00 price target on
Bill BarrettBBG
. In the report, Wunderlich Securities noted, “Bill Barrett Corp. (BBG) has made impressive strides in the last 2+ years since entering the Niobrara play but seemingly continues to be under-appreciated in a region that has shown so much success. We think BBG's push into using extended reach laterals (XRLs) due to the significant economic benefits could finally prove once and for all to investors that the company is a strong operator with prospective (and proven) acreage within the Niobrara. Further, with downspacing tests in the region planned (and ongoing) for 2H14 we believe the work BBG has put into the Niobrara should continue to pay off in both the near-term and long-term.” Bill Barrett closed on Friday at $22.21.
Posted In: Analyst ColorReiterationAnalyst RatingsJason A. WanglerWunderlich Securities
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