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UPDATE: Morgan Stanley Downgrades Eclipse Resources On Rational Activity Reduction At Lower Prices


In a report published Wednesday, Morgan Stanley analyst Drew Venker downgraded the rating on Eclipse Resources Corp (NYSE: ECR) from Overweight to Equal-Weight, and lowered the price target from $16.00 to $12.00.

In the report, Morgan Stanley noted, “We are downgrading to Equal-weight due to concerns over growth in a lower commodity price environment. We believe Eclipse has an increasing focus on minimizing leverage which would most likely take the form of lower spending in 2015. The result would be lower growth and a larger implied EBITDA multiple. However, we continue to believe that Eclipse has concentrated exposure to the best acreage in the Utica.”

Eclipse Resources closed on Tuesday at $9.02.

Latest Ratings for ECR

Sep 2018Goldman SachsUpgradesSellNeutral
Aug 2018Stifel NicolausMaintainsHoldHold
Aug 2018Capital One FinancialUpgradesEqual-WeightOverweight

View More Analyst Ratings for ECR
View the Latest Analyst Ratings


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Posted-In: Drew Venker Morgan StanleyAnalyst Color Downgrades Analyst Ratings

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