Deutsche Bank Starts Goodrich Petroleum (GDP) at Buy; Strong Eagle Ford with a Side of Tuscaloosa

Deutsche Bank initiates coverage on Goodrich Petroleum (NYSE: GDP) with a Buy. PT $23.00.

Deutsche analyst says, "GDP's solid Eagle Ford oil growth, with implications for cash flow and security of funding, remains underappreciated by the Street today. GDP shows top tier CF and margin growth through 2015 in our base case, with two upside options that could launch shares if struck: (1) upside to natural gas (via core Haynesville) and (2) upside to the Tuscaloosa Marine Shale, a developing liquids play in Mississippi and Louisiana. With unsurpassed TMS leverage, we expect more results from industry and GDP could revise value in 2012."

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

Shares of Goodrich Petroleum closed at $15.16 yesterday.

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