UPDATE: Roth Capital Starts PEDEVCO Corp (PED) at Buy

Roth Capital analyst John White initiates coverage on PEDEVCO Corp (NYSE: PED) with a Buy rating (from $1.95).

The analyst comments "We believe PED presents a compelling investment opportunity for several reasons, including our estimates of strong production growth, revenues and cash flow in 2022, maintaining a balance sheet with zero debt during 2022, and a management team strongly aligned with shareholders. Our estimates of 2022 results are based on the following assumptions. We note there is no official guidance for 2022."

For an analyst ratings summary and ratings history on PEDEVCO Corp click here. For more ratings news on PEDEVCO Corp click here.

Shares of PEDEVCO Corp closed at $1.07 yesterday.

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