Morgan Keegan Reports on SandRidge Energy (SD)

Morgan Keegan commented on SandRidge Energy SD in a report released today. In the report, Keegan was positive in its assessment of the company. Keegan writes, “With early entry into the Permian Basin, SandRidge has achieved critical mass in one of the most prolific oily plays in the country, quickly exposing shareholders to higher-margin oily growth opportunities. While relatively expensive on an earnings and cash flow basis, we think there is plenty of asset-driven upside potential in SD shares, despite a high debt level currently. As such, we rate SandRidge shares Outperform with an $18 price target.” Keegan currently has an Outperform rating on SandRidge and a price target of $18.00. Shares of SD closed the trading day at $10.02, down $0.26 from the opening bell.