CPE - Callon Petroleum undervalued vs. peers Roth says in upgrade to Buy

Callon Petroleum (NYSE:CPE) edges higher as Roth Capital upgraded shares to Buy from Neutral with an $80 price target on Monday, saying the stock looks attractive with a 2022 P/E ratio of 4.2x and a price/cash flow per share ratio of 2.4x. Callon (CPE) shares also look attractive on a relative value basis, Roth analyst John White said: Within the mid-cap oil weighted peer group, on the metric of EV/EBITDA, the stock trades at 4x, a discount to the mean of 4.7x, and on the measure of price/CFPS, Callon trades at 2.4x, a discount to the mean of 4.2x. Within the Permian-focused peer group, on the metric of EV/EBITDA, White calculates Callon (CPE) trades at 4x, a discount to the mean of 4.3x, and on the measure of price/CFPS, the stock trades at 2.4x, a discount to the mean of 3.62x. Callon Petroleum (CPE) is projected to generate $724M in positive

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Callon Petroleum undervalued vs. peers, Roth says in upgrade to Buy