Denbury: Updated Forecast model has been posted

[dan_s]

Sweet 16 Growth Portfolio: An updated forecast model for Denbury Resources (DNR) has been posted under the Sweet 16 Tab. It includes the effects of the sale of their Bakken assets to ExxonMobil, which is set to close in the 4th quarter.

You can see my new Fair Value Estimate at the bottom of the spreadsheet.

Note that the forecast does not include a gain on the sale in the 4th quarter, which may be significant. DNR is attempting to defer income taxes on the gain by acquiring more properties that will qualify under Section 1031.

[setliff]

COVERAGE REITERATED: Denbury Resources (DNR) reiterated by Wunderlich. Reiterated rating Buy. 09/24 04:14 AM

--------------------------------------------------------------------------------
price target upped from 18 to 22. BFD