Wunderlich Securities Continues To Feel Confident About Earthstone Energy

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $30.00 price target on

. In the report, Wunderlich Securities noted, "Earthstone Energy (ESTE) announced its 4Q14 and full-year results at the end of last week that are a bit noisy given the moving parts of multiple acquisitions. Given the company has already provided the market with 2015 guidance, there were not many surprises or changes to our numbers, but what continues to look strong is the company's balance sheet that still shows $100 million in cash and a sizeable availability on its revolver that provides additional liquidity. These funds should help Earthstone grow through its own drilling as well as by fueling acquisitions to bolster the company's inventory for the future. This strong balance sheet, along with a seasoned and successful management team, are the primary reasons we remain bullish on Earthstone as we look for growth from multiple areas." Earthstone Energy closed on Friday at $24.79.