Another Upgrade Stifel’s Cody Kwong hiked his Enerplus Corp. target to $26.50 from $24 with a “buy” rating. The average is $20.17.
“Enerplus hosted an in-person investor presentation where it focused on the merits on the economics, operations, and sustainability of its North Dakota Bakken play,” he said. “We came away with the belief that the market is significantly underestimating the depth and quality of its inventory as well as the process/controls the company has in place to extract the maximum value out of its assets. The Company’s clear vision and thoughtful execution only reaffirms our view that Enerplus is a Top Idea in the North American E&P landscape.”