Mizuho initiated coverage of BKV Corp. (BKV) with an Outperform rating and $29 price target Although the company’s three business units may be fairly valued on a standalone basis, as an integrated business they offer investors the opportunity to participate in a “confluence market trends” and the potential for premium margins across different energy value chains that is greater than the sum of its parts, the analyst tells investors in a research note. The firm says the longer-term value of BKV’s assets could be attractive to investors willing to be patient especially given lower balance sheet leverage and disciplined hedging.
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