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