Piper Jaffray Downgrades Sanchez Energy (SN) to Neutral

September 17, 2017 11:19 PM EDT
Get Alerts SN Hot Sheet
Price: $0.36 --0%

Rating Summary:
    5 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 32 | New: 34
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Piper Jaffray downgraded Sanchez Energy (NYSE: SN) from Overweight to Neutral with a price target of $6.00 (from $14.00).

Analyst Kashy Harrison says the company requires higher commodity prices along with larger divestitures to lower concerns surrounding leverage by a material amount. The analyst analysts notes that upside remains strong at nearly 35% which is above the coverage group's potential return but "SN's leverage is well above peers increasing the risk profile should commodity prices decline."

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

Shares of Sanchez Energy closed at $4.55 Friday.

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