BPZ Shares Pop On Analyst Upgrade

By Houston Business Journal

Shares of BPZ Resources Inc. finished the week by rising more than 10 percent Friday after positive news from analysts.

The Houston-based energy company's shares closed up 49 cents to $5.21 per share Friday, a 10.38 percent increase.

BPZ stock (NYSE: BPZ) hovered just under $5 per share for most of the week, until the company announced Friday that it had secured $40 million in debt financing with Credit Suisse AG.

That was followed by an upgrade to ⿿strong buy⿝ from ⿿outperform⿝ by an analyst at Raymond James on Friday, who noted that the company has been reporting higher oil production than analyst expectations.

Shares of BPZ are still trading well below their 52-week high of just under $8 per share in March 2010.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/28/bpz-shares-pop-on-analyst-upgrade.html?ana=thestreet

Copyright bizjournals.com 2010

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