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Stock Market & Financial Investment News

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June 4, 2014
08:03 EDTPVAPenn Virginia shares oversold on Eagle Ford concerns, says Canaccord
Canaccord said shares of Penn Virginia are oversold due to concerns about the company's Eagle Ford estimated utilization rates, or EURs, though the firm said the EURs have not gone down and views estimates from its reserve engineer as conservative. Canaccord also cited Penn Virginia's sizable net acre position and its ability to bring down costs as reasons to buy shares after the correction and keeps a Buy rating and $20 price target on the stock.
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