Market Overview

UPDATE: BMO Capital Markets Upgrades Whiting Petroleum to Outperform on Valuation Upside

Share:

BMO Capital Markets upgraded Whiting Petroleum (NYSE: WLL) from Market Perform to Outperform and raises the price target from $50.00 to $60.00.

BMO Capital Markets commented, "Whiting is one of the more polarizing E&P stories in which there is much debate and disagreement around the company's outlook primarily in terms of inventory and growth potential. We took an in-depth look at the main bull and bear cases for Whiting and have concluded that the outlook for the company is more positive than most believe. … Based on our analysis of its growth outlook, we believe WLL shares have upside on a valuation basis and currently trade at a ~2-3x P/CF and EV/EBITDA multiple discount to peers and at a discount to our $54 after-tax NYMEX NAV."

Whiting Petroleum closed at $49.31 on Wednesday.

Latest Ratings for WLL

DateFirmActionFromTo
Nov 2019MaintainsMarket Perform
Nov 2019MaintainsIn-Line
Oct 2019DowngradesStrong BuyOutperform

View More Analyst Ratings for WLL
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (WLL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
NVDACascendMaintains240.0
NXTCBank of AmericaReiterates89.0
RNRJP MorganAssumes173.0
CARBNorthlandDowngrades23.0
GLIBACitiUpgrades80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
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.
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

Analysts Remain Positive on Cisco After Earnings

UPDATE: BMO Capital Markets Upgrades Sun Communities to Outperform on Accretive Acquisitions, Fundamentals