Close

UPDATE: Stifel Downgrades Goodrich Petroleum (GDP) to Sell

December 1, 2015 7:18 AM EST
Get Alerts GDP Hot Sheet
Price: $23.02 --0%

Rating Summary:
    7 Buy, 15 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
(Updated - December 1, 2015 10:29 AM EST)

Stifel downgraded Goodrich Petroleum (NYSE: GDP) from Hold to Sell with a price target of $0.20. Analyst Michael S. Scialla said the financial risk does not warrant a hold rating.

"We are lowering our rating to Sell from Hold following a reduction to our 4Q15 and 2016 oil and natural gas price forecasts. Based on our updated estimates, we project 2016 interest coverage of 0.6x. While the stock has been decimated over the past 12 months and management continues to reduce debt obligations via asset sales, debt exchanges, and conversions, the financial risk does not warrant a Hold rating in our view," said Scialla.

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 $0.40 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, Downgrades