UPDATE: Credit Suisse Reinstates Coverage on Gulfport Energy Corporation with Outperform Rating, $40 PT
In a report published Friday, Credit Suisse reinstated coverage on Gulfport Energy Corporation (NASDAQ: GPOR) with an Outperform rating and $40.00 price target.
Credit Suisse noted, “GPOR has almost single-handedly revived interest in the emerging Utica shale, having reported its initial horizontal result in early August 2012 with its Wagner 1-28H well that had an IP of 4.7 mboe/d assuming full ethane recovery. The Wagner well was clearly an eye-opener after the market had been unimpressed with results since CHK unveiled the play in September 2011 with its Buell 8H that IP'd at 3 mboe/d. GPOR's subsequent two wells did not disappoint either, with IP rates of 3.5 mboe/d and 4.9 mboe/d, respectively. We expect to get results from GPOR's fourth well, the Groh 1-12H (first industry result in northern Guernsey County, OH), next week ahead of the 3Q12 earnings call.”
Gulfport Energy Corporation closed on Thursday at $31.56.
Latest Ratings for GPOR
|Oct 2016||Goldman Sachs||Upgrades||Neutral||Buy|
|Oct 2016||Mizuho Securities||Initiates Coverage on||Buy|
|Sep 2016||GMP Securities||Assumes||Hold|
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