PDC Energy (PDCE) Update - Jan 25

dan_s · Post by **dan_s** » Fri Jan 25, 2019 2:45 pm

New coverage: Price Target for PDCE Announced at $45.00/Share by Citigroup

PDCE is trading for about $33.50 today.

In the last 3 months, 12 ranked analysts set 12-month price targets for PDCE. Their valuations range is $35 to $79. The average price target among the analysts is $57.56.

PDC Energy has two core areas of operations, the DJ Basin and the Permian Basin. Both areas have pipeline takeaway capacity issues. Plus, the "Environmental Wackos" have all of the DJ Basin companies trading at a discount. PDCE trades at less than 3X 2018 operating cash flow per share.

Unless Colorado shuts down the upstream companies in the state, PDC will be profitable in 2019. Production growth should accelerate into year-end.