SRC Energy Inc. (SRCI) PT Raised To $8 At Baird After Bill 181 Passes CO Senate

Baird analyst, Joseph Allman, reiterated his Outperform rating on shares of SRC Energy Inc. (NYSE: SRCI) and raised his price target to $8.00 (from $5.00) after the Colorado Senate Bill 181 passed the Colorado Senate including all of the House amendments and is heading to Governor Polis' desk for his signature.

The analyst stated "The just-passed legislation does two primary things: 1) it allows for local control of oil and gas "in a reasonable manner," and 2) it also changes the mandate of the Colorado Oil and Gas Conservation Commission from "Foster the responsible, balanced development and utilization of the natural resources of oil and gas...in a manner consistent with protection of public health, safety, and welfare, including protection of the environment and wildlife resources" to "Regulate the development and production of the natural resources of oil and gas...in a manner that protects public health, safety..." It also reduces the number of commissioners from nine to seven and changes the qualifications for the five appointed commissioners".

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

Shares of SRC Energy Inc. closed at $5.39 yesterday.

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