Morgans believes the investment case for Sundance Energy has gained momentum and the subsequent strength in the oil price has supported a view that the company has made a transforming acquisition at an ideal point in the cycle.
Numbers from wells developed on the recently-acquired Live Oak and Atascosa acreage have impressed the broker, along with two additional wells on the legacy acreage in McMullen County. Add rating and $0.21 target maintained.
Sector: Energy.
Target price is $0.21.Current Price is $0.10. Difference: $0.11 – (brackets indicate current price is over target). If SEA meets the Morgans target it will return approximately 52% (excluding dividends, fees and charges – negative figures indicate an expected loss).
