Denbury (DEN) on my Watch List - Aug 16
Posted: Tue Aug 16, 2022 10:54 am
Note from Stifel on 8-16-2022
Denbury Inc. (DEN, $77.59, Buy; Target $144.00)
- Raising Target on Favorable Legislation - Michael S. Scialla
- We are raising our DEN price target 9% to $144 primarily due to supportive legislation. The Inflation Reduction Act, which is expected to be signed into law this week, will increase the 45Q tax credit for carbon capture and storage. The new law should expand the size of the CO2 sequestration market and allow DEN to charge emitters a higher tolling fee for transportation and storage.
TALO should also get more Wall Street attention thanks to higher CCS tax credits.
Denbury Inc. (DEN, $77.59, Buy; Target $144.00)
- Raising Target on Favorable Legislation - Michael S. Scialla
- We are raising our DEN price target 9% to $144 primarily due to supportive legislation. The Inflation Reduction Act, which is expected to be signed into law this week, will increase the 45Q tax credit for carbon capture and storage. The new law should expand the size of the CO2 sequestration market and allow DEN to charge emitters a higher tolling fee for transportation and storage.
TALO should also get more Wall Street attention thanks to higher CCS tax credits.