Canaccord analyst Roman Rossi initiated coverage of Parex Resources with a Buy rating and C$33 price target. Parex is the largest independent O&G producer in Colombia, says the firm, which believes the shares should be trading at a premium to peers considering the company’s “strong” balance sheet, “very attractive” shareholders returns and “positive” growth outlook.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PARXF: