Johnson Rice analyst Charles Meade downgraded Ranger Oil (ROCC) to Hold from Buy with a $44 price target after Baytex Energy (BTE) agreed to acquire Ranger for cash and stock valued at approximately $44.36 per share.
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Published first on TheFly
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Read More on ROCC:
- Raymond James cut Baytex, said Ranger deal changes momentum
- Baytex Energy upgraded to Buy at TD after ‘unjustified’ selloff
- Baytex Energy to Acquire Ranger Oil for $2.5 Billion
- Baytex Energy to acquire Ranger Oil for $2.5B including assumption of debt
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