Market Overview

UPDATE: Deutsche Bank Initiates Coverage on WPX Energy with Hold Rating, $19 PT

Share:
Related WPX
4 Energy Stocks Initiated At Outperform, But Which One Is Best?
Natural Gas Supply Glut Narrows on Below-Average Build

In a report published Friday, Deutsche Bank initiated coverage on WPX Energy (NYSE: WPX) with a Hold rating and $19.00 price target.

Deutsche Bank noted, “WPX is a transition E&P, where execution has lagged expectations over its first year as a standalone public entity. The stock trades at discounts to the peer group on all metrics, driven primarily by structural challenges of the business (not asset quality). WPX is actively working to address the margin gap, and with improved execution should begin to close the valuation gap. We look for a path to more tangible operational improvements, and a more aggressive approach to the cost-reduction opportunity. Until further catalysts emerge, we have a Hold rating.”

WPX Energy closed on Thursday at $15.08.

Latest Ratings for WPX

DateFirmActionFromTo
Jul 2017Imperial CapitalInitiates Coverage OnOutperformOutperform
Jul 2017CitigroupMaintainsNeutral
Jun 2017Cowen & Co.UpgradesMarket PerformOutperform

View More Analyst Ratings for WPX
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Initiation Analyst Ratings

 

Related Articles (WPX)

View Comments and Join the Discussion!