Bill Barrett (BBG) PT Lowered to $5 at Wunderlich Securities

Wunderlich Securities lowered its price target on Bill Barrett (NYSE: BBG) to $5.00 (from $8.00) while maintaining a Hold rating.

Analyst Jason Wangler comments "Given the nature of BBG's wells, and the way it produces them, the lag of a production response and the lack of new wells in the near-term, given BBG's slowdown in drilling during 2016, means 2017 should see nominal growth despite the outspend. Looking into 2018, the growth kicks in assuming BBG executes, but with this lag time and outspend, we lower our target from $8 to $5 and remain Hold rated."

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