Stifel Nicolaus Reiterates Buy on Goodrich Petroleum

Stifel Nicolaus is out with its report today on Goodrich Petroleum (NYSE: GDP), reiterating Buy.

In a note to clients, Stifel Nicolaus writes, "The shares are valued at a 6% premium to our universe based on price/NAV and EV/2012E EBITDA. We reiterate our Buy rating and target of $21, which assumes a 6% discount to our 12-month projected multiples."

Shares of GDP closed Wednesday at $18.59.