Market Overview

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

Share:

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

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

View More Analyst Ratings for ECR
View the Latest Analyst Ratings

 

Related Articles (ECR)

View Comments and Join the Discussion!

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

Latest Ratings

StockFirmActionPT
URIVertical ResearchInitiates Coverage On310.0
PCARVertical ResearchInitiates Coverage On95.0
DEVertical ResearchInitiates Coverage On345.0
CNHIVertical ResearchInitiates Coverage On16.0
AGCOVertical ResearchInitiates Coverage On119.0
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.
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