Does Parsley Energy (NYSE:PE) Look Attractive Now? Deutsche Bank Initiates Coverage

Share

Why Has Deutsche Bank Given Parsley Energy (NYSE:PE) a $24.0 Price Target

Equity analysts at Deutsche Bank started coverage on shares of Parsley Energy (NYSE:PE) in an interesting research report revealed on 2 December. The brokerage firm set Buy rating on the stock. Deutsche Bank’s target price of $24.0 suggests potential of 21.46% from the stock’s closing share price.

From a total of 23 analysts covering Parsley Energy Inc (NYSE:PE) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $26 while the lowest target price is $16. The mean of all analyst targets is $22.17 with a 13.08% above today’s ($19.12) stock price. Parsley Energy Inc was the topic of 23 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank initiated shares on December 2 with “Buy” rating. Northland Capital maintained shares with “Outperform” rating and $22 target share price in a report from a November 6. Howard Weil upgraded PE stock in a recent report from November 30 to “Focus Stock” rating. Evercore initiated the rating on October 2. Evercore has a “Buy” rating and a $20 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on a November 6.

Approximately 2.52 million shares of stock traded hands or 16.13% up from the average. Parsley Energy Inc (NYSE:PE) has risen 13.76% since April 29, 2015 and is uptrending. It has outperformed by 13.96% the S&P500.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $3.11 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 155.51 P/E ratio. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.” Get a free copy of the Zacks research report on Parsley Energy Inc (PE).

COMMENTS: