Legacy Reserves Given New $31.00 Price Target at Wunderlich (LGCY)
Analysts at Wunderlich boosted their target price on shares of Legacy Reserves (NASDAQ:LGCY) from $26.00 to $31.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “hold” rating on the stock. Wunderlich’s price objective would suggest a potential upside of 10.44% from the stock’s previous close.
Shares of Legacy Reserves (NASDAQ:LGCY) opened at 28.07 on Tuesday. Legacy Reserves has a 52 week low of $24.57 and a 52 week high of $29.49. The stock has a 50-day moving average of $25.9 and a 200-day moving average of $26.7. The company’s market cap is $1.616 billion.
Legacy Reserves (NASDAQ:LGCY) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.26 by $0.25. The company had revenue of $125.90 million for the quarter, compared to the consensus estimate of $122.01 million. Analysts expect that Legacy Reserves will post $1.09 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Robert W. Baird raised their price target on shares of Legacy Reserves from $30.00 to $37.00 in a research note on Friday, May 9th. Separately, analysts at Oppenheimer upgraded shares of Legacy Reserves from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $29.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Legacy Reserves has an average rating of “Hold” and an average price target of $30.36.
Legacy Reserves LP (NASDAQ:LGCY) is an independent oil and natural gas limited partnership.
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