Seeking Alpha

Brean downgrades Bonanza Creek Energy, sees more upside in PDCE, SYRG

  • Brean downgrades Bonanza Creek Energy (BCEI) to Hold from Buy.
  • "Attractive, linear growth and long-lived inventory make this a solid story, but we find the upside in PDC Energy (PDCE) and Synergy Resources (SYRG) as more compelling at this point despite richer multiples."
  • NBL analyst meeting on December 18th might give reason to revisit NAV assumptions.
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