Denbury price target raised to $140 from $138 at Stifel

Stifel analyst Nate Pendleton raised the firm’s price target on Denbury to $140 from $138 and keeps a Buy rating on the shares. The firm updated commodity estimates to reflect strip prices through 2025 and revised production and capital forecasts to reflect recent discussions with management in preparation for the upcoming Q1 earnings season for the Americas energy and power group. For Q1, the firm believes investors are "keenly focused" on 2023 E&P capital and operational plans, assessing the "resolve to remain capital discipline," the evolving operating/regulatory environment and management views on M&A.