Barclays Adjusts Price Target On Resolute Energy To Reflect Stock Split

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Barclays adjusted its price target on Resolute Energy Corp REN to $4 from $1 to reflect the stock split. Still, it provides 16.6 percent potential for upside rewards. It has an Underweight rating on the company's shares.

The brokerage said they were updating their model, as well as the price target after Resolute Energy's one-for-five reverse stock split announced on May 27. As a result, the investment advisor compressed its target multiple by a quarter turn to 6.75x from 7.00 earlier.

On Tuesday, the stock traded 0.88 percent higher.

Posted In: Price TargetReiterationAnalyst RatingsBarclays
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