Goldman Sachs Downgrades Laredo Petroleum (LPI) to Sell

Goldman Sachs downgraded Laredo Petroleum (NYSE: LPI) from Neutral to Sell with a price target of $16.50 (from $29.00).

Analyst Brian Singer said, "We see the company relatively more vulnerable to weaker oil prices because of its weak balance sheet and material negative projected free cash. We lower our production and earnings estimates."

For an analyst ratings summary and ratings history on Laredo Petroleum click here. For more ratings news on Laredo Petroleum click here.

Shares of Laredo Petroleum closed at $18.92 yesterday.

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