Imperial Capital Starts Laredo Petroleum (LPI) at In-Line
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Rating Summary:
13 Buy, 14 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Imperial Capital initiates coverage on Laredo Petroleum (NYSE: LPI) with a In-Line rating and a price target of $12.50.
Analyst Kim Pacanovsky commented, "A Permian Basin pure-play, Laredo operates in the Midland Basin sub-basin. LPI has aggressively pursued a more complete scientific understanding of its subsurface, which has resulted in recent well performance moving above the type curve. Due to its eastern location in the Basin, LPI’s production mix has a higher gas/NGL component than that of its Midland Basin peers, and thus IRRs are lower than those of the group. While we believe the company is executing well, this gassier weighting combined with a lower liquidity cushion than peers, along with higher F&D costs, support our In-Line rating."
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 $12.36 yesterday.
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