Market Overview

UPDATE: Deutsche Bank Cuts PT to $26 on Bill Barrett; E&P Exposure to Commodity Moves

Related BBG
Benzinga's Option Alert Recap From March 13
Benzinga's Top Upgrades, Downgrades For March 10, 2017

Deutsche Bank lowers its price target on Bill Barrett (NYSE: BBG) from $28 to $26 as it reiterates its Hold rating on shares.

Deutsche Bank comments, "E&Ps are again demonstrating exposure to the leading edge of commodity moves and proving that no matter how good the stock specific outlook, individual names cannot outrun macro headwinds. A key benchmark of intrinsic value in the upstream is proved reserve value (PV-10). Our work suggests that adjusted for the current forward curve (oil & natural gas) our group trades at levels last witnessed at the market lows last October (1.7x EV/PV-10 at current 48 month strip). A constructive backdrop, particularly should commodity prices stabilize."

BBG closed at $20.73 on Friday.

Latest Ratings for BBG

Apr 2017Stifel NicolausReinstatesBuy
Mar 2017FBR CapitalInitiates Coverage OnMarket Perform
Mar 2017Canaccord GenuityUpgradesHoldBuy

View More Analyst Ratings for BBG
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings


Related Articles (BBG)

View Comments and Join the Discussion!