Mizuho analyst Nitin Kumar initiated coverage of PDC Energy with a Buy rating and $97 price target. The stock trades at a discount to peers due to perceived Colorado regulatory risk and the potential for M&A, but he believes these concerns ignore PDC’s strong free cash flow and cash return framework, which Kumar contends are "more competitive with larger E&Ps."
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Read More on PDCE:
- PDC Energy downgraded to Hold from Buy at Truist
- PDC Energy Announces Unanimous Approval of The Guanella Comprehensive Area Plan Adding Clear Line of Sight for Sustainable Long-Term Colorado Development Activities
- PDC Energy announces COGCC approval of Guanella CAP
- PDC Energy announces 65c per share special dividend
- PDC Energy Declares Quarterly Cash Dividend and Additional Special Dividend on Common Shares
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