New Analyst Ratings and Price Targets on These Basic Materials Stock in December

Wall St. Watchdog reveals information about companies for which stock analysts initiated coverage in the Basic Materials sector for the week ending December 9th, 2011.

  • Encore Wire (NASDAQ:WIRE): Global Hunter Securities initiated coverage of this company with a rating of Accumulate and a price target of $30 on Dec 5th. The shares recently traded at $26.41, down $0.54, or 2% since the analyst’s rating. About the company: Encore Wire Corporation manufactures copper electrical building wire and cable. The Company supplies residential wire for interior wiring in homes, apartments, and manufactured housing. Encore also manufactures wire for commercial and industrial buildings. The Company’s customers are wholesale electrical distributors that serve both the residential and commercial wire markets. Get the most recent company news and stock data here >>
  • Methanex (NASDAQ:MEOH): RBC Capital Mkts initiated coverage of this company with a rating of Sector Perform and a price target of $28 on Dec 6th. The shares recently traded at $22.53, down $1.54, or 6.4% since the analyst’s rating. About the company: Methanex Corporation produces and markets methanol. The Company’s product is used to produce formaldehyde, acetic acid and a variety of other chemical intermediates. Methanol is also used as an additive in gasoline and is used in fuel cell applications. Get the most recent company news and stock data here >>
  • Warren Resources (NASDAQ:WRES): Brean Murray initiated coverage of this company with a rating of Buy and a price target of $4.5 on Dec 6th. The shares recently traded at $2.97, down $0.12, or 3.88% since the analyst’s rating. About the company: Warren Resources Inc. acquires and develops oil and gas properties. The Company’s properties are located in several states in the United States. Warren Resources also serves as the managing general partner to affiliated partnerships and joint ventures. Get the most recent company news and stock data here >>
  • PDC Energy (NASDAQ:PETD): Brean Murray initiated coverage of this company with a rating of Buy and a price target of $46 on Dec 6th. The shares recently traded at $36.28, down $0.66, or 1.79% since the analyst’s rating. About the company: Petroleum Development Corporation is an oil and gas company with drilling and production operations in the Rocky Mountains, the Appalachian Basin, and Michigan. The Company’s drilling operations are focused on shallow Rocky Mountain gas prospects. Petroleum Development also sponsors publicly registered drilling programs and owns an Appalachian Basin natural gas marketing company. Get the most recent company news and stock data here >>
  • Western Gas Partners (NYSE:WES): RBC Capital Mkts initiated coverage of this company with a rating of Outperform and a price target of $45 on Dec 8th. The shares recently traded at $38.31, down $0.07, or 0.18% since the analyst’s rating. About the company: Western Gas Partners LP owns, operates, acquires, and develops midstream energy assets. With midstream assets in East Texas, the Rocky Mountains, the Mid-Continent and West Texas, the partnership is in the business of gathering, compressing, treating and transporting natural gas. Get the most recent company news and stock data here >>
  • Hallador Energy (NASDAQ:HNRG): BB&T Capital Mkts initiated coverage of this company with a rating of Buy and a price target of $12 on Dec 9th. The shares recently traded at $9.78, down $0.4, or 3.93% since the analyst’s rating. About the company: Hallador Energy Company processes, mines and sells coal to producers of electric power. The Company also owns interests in an oil and gas company with operations in Michigan. Get the most recent company news and stock data here >>
  • Energy XXI (NASDAQ:EXXI): KeyBanc Capital Mkts initiated coverage of this company with a rating of Buy and a price target of $45 on Dec 9th. The shares recently traded at $30.35, down $0.44, or 1.43% since the analyst’s rating. About the company: Energy XXI (Bermuda) Ltd. explores for and produces oil and natural gas. The Company operates along the United States’ Gulf Coast and in the Gulf of Mexico. Get the most recent company news and stock data here >>

(Note: Selected financial data are sourced from Briefing.com via the Wall St. Journal. All data are assumed to be accurate.)

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