Triangle Petroleum (AMEX:TPLM) Moving from Acquisition Stage to Operational Stage

Triangle Petroleum (AMEX:TPLM) almost had a complete makeover in 2010, prompting Global Hunter Securities to say they're poised to move from an acquisition stage to an operational stage.

Global said, "Triangle Petroleum exits 2010 an entirely different company than when it entered the year. With a new management, new capital structure and a new business plan focused on what has become the hottest oil play in the U.S. (Bakken Shale), Triangle is poised to grab investor attention as it moves from acreage acquirer to operator in 2011."

Global Hunter Securities initiated coverage on Triangle Petroleum with a "Buy" rating. Triangle closed Friday at $6.50, up $0.09, or 1.40 percent. Global has a price target of $8.50 on them.