Market Overview

UPDATE: BMC Initiates FX Energy at Buy


BMC is out with its report today on FX Energy (NASDAQ: FXEN), initiating FXEN at Buy.

In its report, BMC writes, "We are initiating coverage of FX Energy with a Buy rating and $9.25 target price, a 15% discount to our risked NAV of $11/share, which includes $7.00 per share for exploration upside. FX Energy is an independent oil and gas exploration and production company with production in Poland and the U.S. We like the shares at current levels as we believe that over the next two years FX will drill a dozen or more new wells in Poland, targeting the Permian Basin's Rotliegend sands, thereby unlocking significant reserve additions and adding to probable reserves."

Shares of FXEN closed Friday at $4.13, down 4.40% from Thursday's close.

Posted-In: BMCAnalyst Color Price Target Initiation Analyst Ratings


Related Articles (FXEN)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

CSC Reports Status of NHS Memorandum of Understanding and Advance Payment

Petrobakken Up to 43,000 Barrels Per Day at Sep 30