Roth Capital Cuts Price Target on Synergy Resources (SYRG) to Reflect New Oil Price Forecast.

Roth Capital maintained a Buy rating on Synergy Resources Corporation (NYSE: SYRG), and cut the price target to $18.00 (from $19.00), to reflect a revised oil price forecast. For 2015, Roth lowered Q3 and Q4 oil price estimates from $60 and $65 per Bbl to $55 and $60, respectively.

Analyst Joe Reagor commented, "We are updating our estimates for SYRG to reflect our revised oil price forecasts. As a result, we are cutting our price target from $19 to $18. However, we stress tested our SYRG model for $50 long term oil and believe that this analysis demonstrates that SYRG is in position to demonstrate growth, while surviving a low oil price environment. Thus, we are reiterating our Buy rating."

For an analyst ratings summary and ratings history on Synergy Resources Corporation click here. For more ratings news on Synergy Resources Corporation click here.

Shares of Synergy Resources Corporation closed at $10.06 yesterday.

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