Bonanza Creek (BCEI)

[dan_s]

Bonanza Creek price target raised to $66 from $61 at Credit Suisse
Credit Suisse raised Bonanza Creek's price target to $66 following the announcement it acquired 86.4K gross acres and improving recoveries on new completions. Shares are Outperform rated.

I am working on my forecast model now. - Dan

[dan_s]

Bonanza Creek Energy (BCEI): An updated Net Income & Cash Flow Forecast model, which includes the impact of the company's acquisition that was announced this week, has been posted under the Sweet 16 Tab.

My Fair Value Estimate increases to $72.00/share.

The big jump in my valuation is because I went from 6X CFPS to 7X CFPS. I believe the higher multiple is justified by the company's extensive inventory of low-risk drilling locations and the strong results they are getting on their downspacing pilots. [Which also bullish news for CRZO and WLL.]

[dan_s]

May 31: In the last five days First Call's Price Target has increased $3.90/share to $61.95. A move of that size means the analysts really like what they see. My valuation is $72.00/share and I think First Call's price target will approach that when the company reports strong Q2 results that will include an update on their downspacing program.