UPDATE: Rodman & Renshaw Lower PT to $5.50 on BPZ Resources

By BenzingaStaffB
Benzinga Staff Writer
October 21, 2011 10:45 AM

Symbols: BPZ

Posted in: Analyst Color, Price Target, Analyst Ratings

A report from Rodman & Renshaw reiterates its Outperform rating and lowers its price target from $6 to $5.50 on BPZ Resources (NYSE: BPZ).

The report states, “As a result of the lower production forecast, our target price falls to $5.50 from $6. No change to our rating as we currently see ~100% upside from current levels”.

BPZ closed yesterday at $2.74.

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UPDATE: Rodman & Renshaw Lower PT to $5.50 on BPZ Resources

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