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

• Constellation Brands (STZ) PT Lowered to $145 at UBS on Softer Consumer Backdrop
• Pepsico (PEP) PT Lowered to $161 at BNP Paribas Exane, 'Expect Renewed Calls for Greater Urgency in NA'
• AutoZone (AZO) PT Lowered to $3,500 at BMO Capital