Morgan Stanley Resumes Coverage Of SandRidge At Overweight

According to Morgan Stanley, SandRidge Energy SD coverage is resumed at Overweight with a $15 price target. Morgan Stanley reported that SD was an early and aggressive mover in the industry's shift from gas to oil. “This strategy has positioned the company's asset base well. Further, SD's financial and operating leverage makes the company among the most levered in our coverage group to changes in oil prices. Adding to the attractiveness of the investment profile, a dominant leasehold position in the horizontal Mississippian provides upside to asset value.” SandRidge Energy closed yesterday at $11.62.