Baytex Energy, (NYSE:BTE) made news toward the end of Feb with its announcement of the merger with Ranger Oil Corp (RROC) for about $2.5 bn last week. The market's initial take wasn't very favorable as the stock of BTE swooned from its already low level. It has since rebounded, and our hunch is it has farther to run.
This article will analyze the company's rationale for this deal, which doubles its size in one fell swoop. The market had recently begun forgiving BTE as the news has been digested. An upgrade from TD Cowan didn't…Finding Value In Eagle Ford’s Merger Mania
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