Canaccord Genuity Reiterates a 'Buy' on Goodrich Petroleum (GDP); Twice As Good
Tweet
Share
E-mailGet Alerts GDP Hot Sheet
Price: $23.02 --0%
Rating Summary:
7 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
7 Buy, 15 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Goodrich Petroleum (NYSE: GDP) price target of $27.00.
Analyst, John Gerdes, said, "We reiterate our price target and rating as higher price realizations offset a lower production outlook. Relative to the sector, we believe GDP has twice the upside as it offers ~50% greater CFPS growth (’12-’14E), yet trades at only a ~10% premium (’12E EBITDA)."
"Following Goodrich’s Q1/guidance update, we lowered our respective ’12 oil and gas production estimates by 5% and 11%. Conversely, we raised respective ’12E oil and gas price realizations by 7% and 11%. Our ’12 revenue estimate was little changed at $276 million."
For an analyst ratings summary and ratings history on Goodrich Petroleum click here. For more ratings news on Goodrich Petroleum click here.
Shares of Goodrich Petroleum closed at $15.35 yesterday.
Analyst, John Gerdes, said, "We reiterate our price target and rating as higher price realizations offset a lower production outlook. Relative to the sector, we believe GDP has twice the upside as it offers ~50% greater CFPS growth (’12-’14E), yet trades at only a ~10% premium (’12E EBITDA)."
"Following Goodrich’s Q1/guidance update, we lowered our respective ’12 oil and gas production estimates by 5% and 11%. Conversely, we raised respective ’12E oil and gas price realizations by 7% and 11%. Our ’12 revenue estimate was little changed at $276 million."
For an analyst ratings summary and ratings history on Goodrich Petroleum click here. For more ratings news on Goodrich Petroleum click here.
Shares of Goodrich Petroleum closed at $15.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Downgrades Vicinity Centers (VCX:AU) (CNRAF) to Neutral
- Goldman Sachs Downgrades Shanghai Jahwa United (600315:CH) to Neutral
- JPMorgan Downgrades Kuaishou Technology (1024:HK) to Neutral
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
