PDC Energy recommended ahead of Utica results at SunTrust SunTrust recommends buying PDC Energy ahead of Utica test results. The firm expects positive production rates and Noble Energy's (NBL) analyst day on December 6 to boost PDC Energy shares. The firm rates PDC Energy a Buy with a $43 price target, up from $37.
PDC Energy price target raised to $80 from $70 at Credit Suisse Credit Suisse raised Outperform rated PDC Energy's price target to $80 following yesterday's analyst day that highlighted Wattenberg growth potential, project portfolio, and strong balance sheet. Shares are Outperform rated.
PDC Energy guides 2015 adjusted EPS $1.44-$1.60 PDC Energy guided 2015 adjusted EPS to $1.40-$1.60 in analyst day presentation slides, which includes the company's March equity offering. The consensus estimate is $1.91. The company's' previous EPS outlook was $1.47-$1.62. PDC reaffirms its 2015 production outlook of 13.5-14.5 MMBoe. The company sees 2015 adjusted revenue $551M-$590M versus the consensus of $611.8M.