Global Hunter Securities Upgrades SandRidge Energy (SD) to Neutral; Liquidity Improving
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Price: $14.34 +1.20%
Rating Summary:
2 Buy, 13 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
2 Buy, 13 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Global Hunter Securities upgraded SandRidge Energy (NYSE: SD) from Reduce to Neutral. PT increased from $6.75 to $11.15.
Global analyst says, "After recent assets sales we can see light at the end of the liquidity tunnel and it's not a train. Coupled with our improved commodity price outlook we believe SD will require no additional capital to fund its capex based on our estimates. In addition to impact of our new commodity prices, we are acknowledging the market's premium multiple for SD and are increasing our price target from $6.75 to $11.15 per share with a bump in EBITDA multiple from 8x to 10x. Given the proximity of our target to recent price levels, we are upgrading our rating."
For more ratings news on SandRidge Energy click here and for the rating history of SandRidge Energy click here.
Shares of SandRidge Energy closed at $12.44 yesterday.
Global analyst says, "After recent assets sales we can see light at the end of the liquidity tunnel and it's not a train. Coupled with our improved commodity price outlook we believe SD will require no additional capital to fund its capex based on our estimates. In addition to impact of our new commodity prices, we are acknowledging the market's premium multiple for SD and are increasing our price target from $6.75 to $11.15 per share with a bump in EBITDA multiple from 8x to 10x. Given the proximity of our target to recent price levels, we are upgrading our rating."
For more ratings news on SandRidge Energy click here and for the rating history of SandRidge Energy click here.
Shares of SandRidge Energy closed at $12.44 yesterday.
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