Michael Fitzsimmons
Oil & gas, dividend investing, research analyst

Enerplus Significantly Upgrades Bakken And Three Forks Potential, Stock 25% Undervalued

Back in late April I raised my price target on Enerplus (NYSE:ERF) from $23 to $25 based on bullish earnings expectations as a result of the extremely cold winter and ERF's Marcellus gas operations. However, I also pointed out that the company had put a priority on its operations in the Bakken: 40% of 2014 cap-ex is allocated to the play. This morning Enerplus announced a very bullish report on its Bakken acreage. Although I keep raising my price target on Enerplus, the stock has been up to the challenge - most recently busting through my earlier $23 PT. While the stock has not yet reached $25 (my last PT), I won't wait this time. I am raising...

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