Stone Energy Corp. (SGY)
We recently upgraded Stone Energy shares to Buy from Hold following the stock's pullback (down more than 20% in the last month alone) on the back of commodity-price weakness. We like the acquisition of Bois d'Arc Energy. The strategic rationale of the transaction is compelling, given the complementary asset bases, strategies, and skill sets of the two companies. The new Stone Energy will be more diversified with a significant Gulf of Mexico exploration exposure.
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| Market Summary | Nov 08, 2009 08:19 am ET |


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