Crimson Exploration Inc. (CXPO)

[Bart Myers]

Global Hunter is out with its report today on Crimson Exploration (NASDAQ: CXPO), raising its PT from $6.20 to $6.52.

In a note to clients, Global Hunter writes, "Crimson Exploration reported strong 1Q11 results on impressive production growth that exceeded the high end of company guidance and our estimates. Liquids growth continues to increase as Crimson moves away from its Haynesville/Bossier drilling operations and focuses its attention on its liquids and condensate rich acreage in the Eagle Ford. We see several catalysts for CXPO shares into 2H12 including the completion of several Eagle Ford wells and increased capital exposure to other liquids rich plays including the Woodbine and Niobrara. We are maintaining our Buy rating and increasing our price target from $6.20 to $6.52, based on 6.0x 2Q12 EBITDA (ttm) less projected net debt."


Source: http://www.benzinga.com/analyst-ratings/analyst-color/11/05/1085848/update-global-hunter-raises-pt-on-crimson-exploration-to#ixzz1MWe5JSaR