December 13, 2016 / 4:55 PM / in 10 months

BUZZ-Enerplus Corp: Brokerages raise PT on North Dakota asset sale

** Canadian energy producer’s shares rise as much as 6.1 pct to C$13.22

** Enerplus, on Monday, announced sale of its North Dakota assets for $292 mln

** Multiple brokerages raise their PTs: Credit Suisse to C$15 from C$14, BMO to C$13.50 from C$11, CIBC to C$13.50 from C$11

** Brokerages also maintained their ratings: RBC raises PT to C$14 from C$13, rating “outperform”; Canaccord Genuity to C$16 from C$11, rating “buy”; Barclays to C$15 from C$13, rating “overweight”; and Desjardins Capital Markets raises to C$14.50 from C$12.50, rating “buy”

** “The divestiture is consistent with the company’s non-core disposition program” Barclays analysts write in a note

** More than 1.8 mln shares traded, 1.3x 30-day moving avg

** 11 of 15 brokerages rate the stock “buy” or higher, 4 “hold”; median PT C$14.25

** Up to Monday’s close, stock had more than doubled its value YTD

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below