July 8, 2008

$27 Price Target on El Paso

Zacks has an article on El Paso Corp, which they give a $27 price target. From the article:

"El Paso's onshore future looks solid. With an average production weighted reserve to production ratio of 10 years, the company should be able to maintain high single-digit growth rates into the next decade. The E&P is forecasted to grow production between 8%-12% over the next three to four years. This, coupled with favorable oil and gas prices, should lead to higher margins and earnings growth and will offer investors continued strength in the near term."

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