Imperial Capital Cuts Price Target on Gastar (GST) on Light Guidance

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Imperial Capital maintained an Outperform rating on Gastar Exploration Limited (NYSE: GST) but cuts its price target to $2.00 (from $3.00).

Yesterday Gastar reported EPS that beat estimates by a penny. Commenting on the results, analyst Gabriele Sorbara said he views the results as consistent with Imperial Capital’s estimates.

"Operationally, GST continues to execute in the liquids rich Marcellus, but 4Q12 production guidance of 38.0-40.0 Mmcfe/d is light relative to our previous estimate of 43.2 Mmcfe/d," said Sorbara.

For an analyst ratings summary and ratings history on Gastar Exploration Limited click here. For more ratings news on Gastar Exploration Limited click here.

Shares of Gastar Exploration Limited closed at $0.97 yesterday, with a 52 week range of $0.88-$3.64.

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