Imperial Capital Sees Favorable 2015 Despite Challenging Commodity Environment For Bonanza Creek Energy

In a report published Tuesday, Imperial Capital analyst Kim Pacanovsky reiterated an Outperform rating and $30.00 price target on Bonanza Creek Energy, Inc. (NYSE: BCEI).

In the report, Imperial Capital noted, "We are maintaining our Outperform rating on BCEI shares and our $30 price target. Our price target is about 15% above the recent share price. BCEI recently undertook several measures to shore up its balance sheet, and together with a successful Niobrara program, we believe it is well positioned for the current downturn. We are increasing our estimates to incorporate lower G&A expenses. We are increasing our 2015 EPS estimate to $0.02 from ($0.22) and our 2015 adjusted EBITDA estimate to $293.6mn from $284.1mn."

Bonanza Creek Energy closed on Monday at $26.10.