Clayton Williams +5.5% on Global Hunter upgrade

|About: Clayton Williams Energy, Inc. (CWEI)|By:, SA News Editor

Clayton Williams Energy (CWEI +5.5%) is upgraded to Buy from Neutral with a $100 price target, raised from $82, at Global Hunter, which cites CWEI's core position in the Permian's Southern Delaware Wolfcamp play.

The firm's belief is that the euphoria that swept over the Central/Northern Midland Basin in 2013 will soon emerge as a major theme in the Southern Delaware Basin, which could prove a sizable catalyst for CWEI.

CWEI also has emerged as a top M&A target for companies looking to break into the Permian or expand upon a current position given the upside potential and attractive valuation, the firm adds.