Mizuho Securities Starts Gulfport Energy (GPOR) at Buy

October 5, 2016 4:18 PM EDT
Get Alerts GPOR Hot Sheet
Price: $21.41 -1.34%

Rating Summary:
    31 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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Mizuho Securities initiates coverage on Gulfport Energy (NASDAQ: GPOR) with a Buy rating and a price target of $35.00.

Analyst Timothy Rezvan commented, "We are supportive of Gulfport's planned activity increase into '17, as it meshes with our favorable view of natural gas and confirms strong well-level returns dry gas wells generate in a $3/mcf world. GPOR shares have lagged peers YTD due to midstream-related production shortfalls, but we expect additional pipelines/compression to alleviate concerns. Recent selling pressure makes Gulfport a "show me" story into 3Q earnings, but execution toward informal, long-term guidance (25%-30% production growth in '17, another 35% in '18, assuming six rigs) should refocus attention on Gulfport's high-quality Utica Shale dry gas acreage."

For an analyst ratings summary and ratings history on Gulfport Energy click here. For more ratings news on Gulfport Energy click here.

Shares of Gulfport Energy closed at $27.94 yesterday.

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