KeyBanc initiates coverage on Synergy Resources Corporation (NYSE: SYRG) with a Buy. PT $8.50.
The firm cited: "1) a low-risk path to top decile crude volume growth over the next several years; 2) exposure to significant near-term value-enhancing events in the Wattenberg core and extension; 3) a clean balance sheet with an expanding credit facility, and 4) is one of the least expensive ways to play the Wattenberg on an implied $/acre basis."
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Shares of Synergy Resources Corporation closed at $7.07 yesterday, with a 52 week range of $2.40-$7.56.