Market Overview

UPDATE: Canaccord Genuity Downgrades Talisman Energy to Hold, Lowers PT

Share:

In a report published Monday, Canaccord Genuity downgraded its rating on Talisman Energy (NYSE: TLM) from Buy to Hold, and lowered its price target from $16.50 to $14.75.

Canaccord Genuity noted, “We are lowering our rating to HOLD from Buy as we now see TLM having a difficult time selling itself in light of the Petronas news, and therefore our ‘fixes itself or has to sell itself' thesis is not as attractive as it was to us before this past weekend. We are lowering our target by US$1.75 to US$14.75 to remove the take-out premium we had given TLM post the NXY take-out and change of CEO announcements. Our new target price (down from US$16.50) is based on ~4.2x 2013E DACF (down from 4.75x on the Petronas news), plus over US$4.00/share of incremental estimated risked upside potential in the Montney, Marcellus, Eagle Ford and Colombia.”

Talisman Energy closed on Friday at $13.12.

Latest Ratings for TLM

DateFirmActionFromTo
Dec 2014MaintainsNeutral
Dec 2014MaintainsEqual-Weight
Dec 2014DowngradesOutperformMarket Perform

View More Analyst Ratings for TLM
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings

 

Related Articles (TLM)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
TXNJefferiesMaintains164.0
TCBIRBC CapitalMaintains59.0
ASMLRBC CapitalMaintains320.0
CLVSB of A SecuritiesMaintains10.0
FULCB of A SecuritiesMaintains22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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 vipaccounts@benzinga.com