Bonanza Creek (CIVI) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Once half of all downtown Denver office space, the oil industry's real estate footprint has been winnowed by M&A and downsizing.
The mean of analysts' price targets for Bonanza Creek (CIVI) points to a 27.3% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.