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UPDATE: Imperial Capital Downgrades Endeavour International Corporation to In-Line on Execution Missteps

Related END
Endeavour International Corporation Announces Closing Of $440M Senior Secured First Lien Term Loan And Forbearance Agreement With Noteholders
Stocks Hitting 52-Week Lows

Imperial Capital downgraded Endeavour International Corporation (NYSE: END) from Outperform to In-line and lowered the price target from $11.00 to $8.50.

Imperial Capital commented, "The company failed to close on its acquisition of MacCulloch and announced further delays related to first production at Rochelle (now targeting June/July 2013 timeframe). While significant upside remains to our NAV estimate, this gap cannot be closed unless the company can demonstrate the ability to effectively manage project risk as well as a potentially tight liquidity situation, in our opinion. We believe investors should wait for the company to demonstrate success in execution, before taking advantage of the most recent price dislocation."

Endeavour International Corporation closed at $3.05 on Friday.

Latest Ratings for END

Aug 2014Canaccord GenuityMaintainsHold
Jul 2014FBR CapitalDowngradesOutperformMarket Perform
Jun 2014Canaccord GenuityMaintainsHold

View More Analyst Ratings for END
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Downgrades Analyst Ratings


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