RE:analyst commentary???downwithdotcom1 wrote: anyone come across analyst commentary please post. The selling has to be more than just a retail base rebuke about these impairments, so i'd like to see what is being said...thank-you...dwdc
this was posted earlier today
Stifel’s Cody Kwong raised his Baytex Energy Corp. target to $6.25 from $6 with a “buy” rating, while RBC’s Greg Pardy cut his target to $7 from $8 with an “outperform” rating. The average is $6.53.
“Baytex reported 4Q23 results that saw cash flow inline with consensus expectations while both production and capex were fractionally better than forecasted,” said Mr. Kwong. “The company did record an $834 mm non-cash impairment on its legacy non-op Eagle Ford and remaining Viking assets. Year-end reserve characteristics were unsurprisingly dominated by the Ranger Oil acquisition, while taking the time to clean up some negative revisions in its non-op Eagle Ford and Viking properties. 2024 guidance remains intact despite January freeze-offs impacting production volumes by 2,000 boe/d. Based on some modest improvements to our proforma AFFO outlook, with the help of slowly improving crude oil prices, we are increasing our target.”