Wells Fargo Starts Laredo Petroleum (LPI) at Outperform; Growth Accelerating Into 2012

Wells Fargo initiates coverage on Laredo Petroleum (NYSE: LPI) with an Outperform. PT $32.00.

Wells analyst says, "We believe Laredo's proven management team will deliver impressive growth from a deep well inventory for many years and that shares are currently at an attractive valuation. Our EPS estimates for 2012 and 2013 are $1.05 and $1.60. Our valuation range is $30-32 per share based on our net asset value estimate of $31.63, offering 30% upside potential from current pricing."

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

Shares of Laredo Petroleum closed at $22.27 yesterday.

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