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UPDATE: Global Hunter Securities Downgrades EPL Oil & Gas on Lower Guidance

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Global Hunter Securities reduced its rating on EPL Oil & Gas (NYSE: EPL) from Buy to Accumulate and reduced its price target from $27 to $25.

Global Hunter Securities said, "EPL reported Q3:12 results that were ahead of expectations: 10.83 Mboepd, $0.31 in EPS, $1.20 in CFPS and $50.4MM in EBITDA vs. 10.1 MMboe, $0.23, $1.14 and $52.9MM, respectively. Financial upside all materialized below the operating income line, however, as compared to our forecast. … Our valuation estimate declines $2 per share to $25 in response to more conservative than previously forecasted production. Our downgrade to Accumulate from Buy reflects a more cautious stance in response to limited appreciation potential from recent price levels to our price target."

EPL Oil & Gas closed at $22.45 on Thursday.

Latest Ratings for EPL

Apr 2014Clarksons PlatouDowngradesMarket Perform
Mar 2014Cowen & Co.DowngradesOutperformMarket Perform
Mar 2014KLR GroupDowngradesBuyHold

View More Analyst Ratings for EPL
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Posted-In: Global Hunter SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings


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