UPDATE: Imperial Capital Initiates Coverage on FX Energy with In-Line Rating, $3.60 PT Awaiting Further Drilling Results and Production Additions

Loading...
Loading...
In a report published Friday, Imperial Capital analyst Kim Pacanovsky initiated coverage on
FX EnergyFXEN
with an In-Line rating and $3.60 price target. In the report, Imperial Capital noted, “We are initiating coverage of FXEN shares with an In-Line rating and one-year price target of $3.50, about 8% above the recently quoted share price. While FX, a U.S.-domiciled E&P with operations primarily in Poland, is undervalued on a Risked Net Asset Value (RNAV) basis, we believe investors may sit on the sidelines until further delineation of the Tuchola discovery occurs, or we see positive results from other near-term drilling. While Poland has distinct advantages such as being underexplored for conventional structures as well as low royalties, FX has been plagued by delays that are essentially out of its control and due to its partner, PGNiG (the Polish state oil company), and the slow pace of permitting in Poland.” FX Energy closed on Thursday at $3.34.
Posted In: Analyst ColorInitiationAnalyst Ratingsimperial capitalKim Pacanovsky
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...