FBR Capital Assumes Glori Energy (GLRI) at Outperform

FBR Capital assums coverage on Glori Energy (NASDAQ: GLRI) with a Outperform rating and a price target of $1.50.

Analyst Chad Mabry commented, "Following a recent meeting with CEO Stuart Page, CFO Victor Perez, and CTO Michael Pavia at the company’s labs, we gained an enhanced appreciation for Glori’s unique, technology-based business model and its potential to establish a niche growth market within the oil and gas industry. While shares of GLRI have not been immune to challenging commodity prices, we believe the company should have sufficient liquidity to execute its near-term capital plans while the weak environment should play to the strengths of its M&A strategy. With this note we are assuming coverage of Glori Energy with an Outperform rating and a $1.50 price target."

For an analyst ratings summary and ratings history on Glori Energy click here. For more ratings news on Glori Energy click here.

Shares of Glori Energy closed at $0.57 yesterday.

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