Market Overview

UPDATE: Stifel Nicolaus Upgrades Crimson Exploration to Buy on Catalysts to Upside

Related CXPO
Contango, Crimson Announce Registration Statement on Form S-4 Regarding Proposed Merger Declared Effective by SEC
Benzinga's Top Downgrades

Stifel Nicolaus upgraded Crimson Exploration Inc. (NASDAQ: CXPO) from Hold to Buy and announced a $3.75 price target.

Stifel Nicolaus commented, "While the risk profile of the name remains high (liquidity, outspending of CF, high debt levels, 2013 guidance yet to be issued, expectation of meaningful negative PUD revisions, small cap), the meaningful underperformance over the past 6+ months has created an attractive entry point that is below its liquidation value. We believe that 1) the return of drilling in the Woodbine, 2) expected startup of the Covington-Upchurch well, and 3) release of 2013 guidance should help move the stock in the right direction."

Crimson Exploration closed at $2.80 on Friday.

Latest Ratings for CXPO

May 2013Stifel NicolausDowngradesBuyHold
May 2013iBERIA Capital PartnersDowngradesOutperformSector Perform
May 2013Johnson RiceDowngradesOverweightEqual-Weight

View More Analyst Ratings for CXPO
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (CXPO)

View Comments and Join the Discussion!

Partner Center