DJ Attractive Entry Point Looms for Sundance Energy: Canaccord...

DJ Attractive Entry Point Looms for Sundance Energy: Canaccord -- Market Talk
22:44 GMT [Dow Jones] Sundance Energy's (SEA.AU) exit from the ASX 200 Index this week should lead to a chunk of its stock changing hands as tracker funds reshape their portfolios, and Canaccord Genuity thinks this could be a chance for investors to buy shares at an attractive price. "We continue to highlight the improved economics of Sundance Energy's undrilled well locations which do not appear to be reflected in Sundance Energy's current share price, which has fallen 30% since its mid-May highs despite the oil price remaining relatively stable," analyst Johan Hedstrom says. At a US$60/bbl oil price, Canaccord forecasts that Sundance Energy could increase its output at a compound annual rate of 23% over the next seven years to 35,000 bbl/day, while reducing net debt to ebitda excluding exploration expenses to just 1 times. The broker retains a buy call, and A$1.17/share price target. SEA last traded at A$0.50