Skip to main content

Market Overview

UPDATE: Credit Suisse Downgrades Denbury Resources As Investment Thesis No Longer Appears Valid

Share:

In a report published Monday, Credit Suisse analyst Arun Jayaram downgraded the rating on Denbury Resources Inc. (NYSE: DNR) from Outperform to Neutral, and lowered the price target from $19.00 to $16.00.

In the report, Credit Suisse noted, “We are downgrading DNR shares to Neutral from Outperform to reflect the realization that our investment thesis (mid-single-digit oil production growth and sustained dividend growth) appears no longer valid largely due to lower oil prices. We are also lowering our TP to $16. Meanwhile, the 'resignation' of two of DNR's top operating officers signals that a quick turnaround from recent sputters in operating performance is unlikely.”

Denbury Resources closed on Friday at $11.20.

Latest Ratings for DNR

DateFirmActionFromTo
Mar 2020UBSMaintainsNeutral
Mar 2020StifelDowngradesHoldSell
Jan 2020UBSMaintainsNeutral

View More Analyst Ratings for DNR
View the Latest Analyst Ratings

 

Related Articles (DNR)

View Comments and Join the Discussion!

Posted-In: Arun Jayaram Credit SuisseAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
FSRMorgan StanleyMaintains40.0
NATJefferiesMaintains2.8
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
PSXMizuhoMaintains96.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
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