Wunderlich Securities Sees Uniquely Cash-Flowing Assets for Denbury Resources

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In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $24.00 price target on
Denbury ResourcesDNR
. In the report, Wunderlich Securities noted, “Denbury Resources (DNR) has shifted its focus over the past year in multiple ways that we feel ultimately should lead to nice shareholder gains as it truly focuses on increasing shareholder value. The company has always been a slower-growth company, and in a sector that is seemingly always valued on production growth, that puts Denbury in a seemingly disadvantaged position. But what few (investors in DNR) realize is that while the nature of its assets and business do admittedly grow at a slower pace, this slower pace actually maximizes the value of the assets and allows Denbury to be a uniquely cash flow positive company in a sector that has few (if any) of them. We look for this point to be more evident as Denbury looks to double its dividend in 2015 and grow it further in the future.” Denbury Resources closed on Friday at $16.78.
Posted In: Analyst ColorReiterationAnalyst RatingsJason A. WanglerWunderlich Securities
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