Credit Suisse Initiates Coverage on KOG: Target -- $4.50

Received, October 13, 2010, about 6:45 p.m. central standard time from a reader: Credit Suisse just initiated coverage on Kodiak Oil &Gas (KOG) with a Rating of Outperform and a target price of $4.50.

Revenue projections:
12/10E: $35.5M
12/11E: $99.1M
12/12E: $186.9M

EPS projections:
12/10E: $.07
12/11E: $.27
12/12E: $.38

The report is about 28-pages long, received from an on-line brokerage.

Comment: my gut feeling is that one might be able to extrapolate the KOG data to other Bakken companies. Certainly the projected price of oil would be very interesting. Likewise, the near-term production of the wells, is probably relevant to the other Bakken companies.


Today's closing price: an even $4.00. KOG was selling for $2.46 back in August, 2010.  And they call me crazy.



I've Always Been Crazy, Waylon Jennings