Bonanza Creek Energy +19% as Wunderlich pounds the table

• Bonanza Creek Energy (BCEI +18.9%) rallies after Wunderlich reiterates its Buy rating and $29 price target, pointing out that BCEI has a negative implied land value vs. peers' land value of ~6K/acres - a "huge disconnect," the firm says.
• Wunderlich says the recent pressure on BCEI is due to falling on the short side of the Wattenberg pair trades, but BCEI notes that most of its debts (~$800M) is long duration, covenant light, high-yield paper.