UPDATE: Wunderlich Securities Downgrades Sandridge Permian Trust to Hold on Declining Value Over Time

Wunderlich Securities downgrades Sandridge Permian Trust PER from Buy to Hold and reduces its price target from $24.50 to $20.50. Wunderlich Securities notes, "Although the current yield remains attractive, as a term trust, the units hold less value as time passes. The distribution should remain strong over the next several years as SandRidge has hedges in place through March 2015. The attractive yield of 11.6% and growth in the distribution over the next few years are reasons to continue to hold the units, in our view." PER closed at $20.06 on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsWunderlich Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!