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

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

. 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.