Credit Suisse Initiates Outperform, $41 Target on Gulfport Energy
Credit Suisse initiates coverage on Gulfport Energy (NASDAQ: GPOR) with an Outperform rating and $41 target price, as Utica and Grizzly offer big liquid potential for the company.
Credit Suisse says, “GPOR has built a 125k gross (62.5k net) acres position in and around the currently established "core" of the emerging Utica shale play. GPOR remains one of the most leveraged to the Utica, which is expected to be analogous the Eagle Ford shale (oil, gas/condensate, and gas windows) and where early well results suggest industry-leading project returns.”
GPOR closed at $27.55 per share on Wednesday.
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