BUZZ-Penn West Petroleum Ltd: Set to post biggest gain in 11 years
** Canadian oil and gas producer's U.S.-listed shares up 72 pct at $1.58 premarket
** Set to post its biggest intra-day percentage gain since June 2005
** Raymond James and Barclays' analysts raise PT on company's Canadian stock after Penn West said on Friday it would sell its Saskatchewan assets, which include holdings in the Viking region, for $975 mln
** Penn West says it will also sell some of its assets in Alberta for about $140 mln
** Cash obtained from the sale to lower Penn West's pro forma net debt to about $600 mln from $2.1 bln at year-end 2015
** "We now expect PWT to remain within its debt covenants through 2016," Barclays' analysts write. They had previously expected Penn West to breach covenants at the end of June
** Barclays raises PT to C$1.50 from C$1, Raymond James to C$3 from 75 Canadian cents; Raymond James also upgrades stock to "outperform" from "under perform"
** Out of 11 brokerages covering the stock, 10 had "sell" and one "hold"; median PT is 80 Canadian cents
** Up to Friday's close, stock had lost more than half its value in past 12 months
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