Market Overview

UPDATE: Cowen Securities Raises PT on EPL Oil & Gas on Free Cash Flow

Share:

In a report published on Friday, Cowen Securities analyst Nicholas Pope raised the price target on EPL Oil & Gas (NYSE: EPL) from $30.00 to $40.00 and maintained a Buy rating.

In the report, Cowen Securities noted, "EPL's analyst day focused on extracting additional reserves and production out of the acquisitions it has made (and expects to make in the future). An acquire and-exploit strategy remains a strong add to shareholder value for strong operators, while capital remains relatively cheap and commodity prices stable. As a result of last year's Hilcorp acquisition, EPL should generate over $161MM of free cash flow in 2013 ($467MM of discretionary flow vs. CAPEX of $300MM - 12% free cash flow yield). We are modeling $99MM of free cash flow in 2014, but organic growth should moderate the further we get from the company's most recent acquisition. Over, 2013-2014, EPL should generate 18% of its market cap in free cash flow and is using it to pay down debt."

EPL Oil & Gas currently trades at $33.00.

Latest Ratings for EPL

DateFirmActionFromTo
Apr 2014DowngradesMarket Perform
Mar 2014DowngradesOutperformMarket Perform
Mar 2014DowngradesBuyHold

View More Analyst Ratings for EPL
View the Latest Analyst Ratings

Posted-In: Cowen Securities Nicholas PopeAnalyst Color Price Target Analyst Ratings

 

Related Articles (EPL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
YTENNational SecuritiesDowngrades0.250
JDUBSMaintains38.0
JDUOB Kay HianUpgrades40.0
QUOTDougherty & Co.Upgrades14.0
WWWArgus ResearchUpgrades
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

UPDATE: Oppenheimer Raises PT on Keryx Biopharmaceuticals Following Management Meetings

UPDATE: Piper Jaffray Raises PT on Quiksilver Following Strategic Plan Announcement