Penn Virginia Corp (NYSE:PVA)

CAPS Rating: 2 out of 5

The Company is engaged in the exploration, development and production of crude oil and natural gas.

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Player Avatar cursed1 (24.92) Submitted: 6/4/2008 11:05:03 AM : Outperform Start Price: $61.26 PVA Score: -145.52

Analyst Irene Haas of Canaccord Adams maintains her "buy" rating on Penn Virginia Corporation (PVA), while revising her estimates for the company. The target price has been raised to $80.

In a research note published yesterday, the analyst mentions that the WTI crude oil price per barrel estimates for 2008 and 2009 have been raised from $87 to $115 and from $85 to $115, respectively. The NYMEX Henry Hub natural gas price estimates for 2008 and 2009 have been raised from $8.50 to $10 and from $8.50 to $11, respectively. The cash flows per share estimate for 2009 has been revised to $9.43.

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