Market Overview

UPDATE: Global Hunter Securities Initiates Cobalt International Energy at Buy on Discoveries

Related CIE
12 Biggest Mid-Day Losers For Wednesday
15 Biggest Mid-Day Gainers For Thursday

Global Hunter Securities initiated coverage on Cobalt International Energy (NYSE: CIE) with a Buy rating and a $35 price target.

Global Hunter Securities commented, "Cobalt International Energy (CIE) has proven to be an exceptional explorer, in our opinion, with large-scale discoveries under its belt in both the GOM and Angola. 2013 and 2014 should see a series of wells being drilled that, while high risk, could hold a net 1.4 Bboe in aggregate – not to mention near-term appraisals of discoveries at Cameia in Angola and Shenandoah in the GOM that are prospective for another 400-plus MMboe. A recent discovery at the North Platte prospect, with a mean 400 MMboe potential estimate, adds to the inventory."

Cobalt International Energy closed at $25.04 on Thursday.

Latest Ratings for CIE

Aug 2016Tudor PickeringUpgradesHoldBuy
Aug 2016CitigroupMaintainsNeutral
Aug 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for CIE
View the Latest Analyst Ratings

Posted-In: Global Hunter SecuritiesAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (CIE)

View Comments and Join the Discussion!