Callon Petroleum (CPE) PT Lowered to $12 at Roth Capital

Roth Capital analyst John M. White lowered the price target on Callon Petroleum (NYSE: CPE) to $12.00 (from $13.50) while maintaining a Buy rating.

Analyst comments: "We are adjusting our estimates for the closing of the previously announced non-core asset sale and the resulting updated guidance. Our estimates move lower and our target price moves slightly lower primarily due to our lower crude oil price deck, partially offset by lower debt levels and lower capex due to an improvement in operations efficiencies. Our 2Q 2019 EPS/CFPS/EBITDA estimates decrease from $0.23/$0.53/$124.4 million to $0.22/$0.49/$115.1 million."

You May Also Be Interested In

• RCM Technologies (RCMT) PT Raised to $45 at Benchmark on Q2 Beat
• Broadridge Financial (BR) PT Raised to $180 at UBS, Neutral Rating Maintained
• LG Electronics India (LGEL:IN) PT Raised to INR1,983 at Nomura/Instinet