Wunderlich downgrades the oil and gas sector due to a lowered forecast for crude oil prices. The firm cuts the following companies to hold: BPZ Resources (BPZ -8.1%), Clayton Williams Energy (CWEI -9.1%), Concho Resources (CXO -4.1%) and Oasis Petroleum (OAS -8.6%). Additionally, it significantly lowers price targets for: Endeavour International (END -10%) to $9 from $18 and Abraxas Petroleum (AXAS -16%) to $3.50 from $8.
Wunderlich downgrades the oil and gas sector due to a lowered forecast for crude oil prices. The...
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