UPDATE: Rodman & Renshaw Lowers Price Target on Goodrich Petroleum to $22

According to Rodman & Renshaw, Goodrich Petroleum GDP price target is lowered to $22. Rodman & Renshaw said that GDP reported a Q4 operating loss of $0.38, missing our estimate of a $0.33 loss and consensus expectations of a $0.21 loss. he operating loss excludes a $6.9 million impairment charge, $2.8 million of unrealized hedge losses, and $0.3 million of litigation expenses. However, CFPS of $0.96 topped our estimate of $0.92 and matched the consensus.” Goodrich Petroleum closed yesterday at $16.29.