UPDATE: Stifel Nicolaus Raises PT to $38 on Gulfport Energy Corporation on 2013 Outlook
Stifel Nicolaus reiterated its Buy rating on Gulfport Energy Corporation (NASDAQ: GPOR) and increased its price target from $35 to $38.
Stifel Nicolaus commented, "We are increasing our target price on GPOR from $35 to $38 to reflect an improved 2013 outlook following the company's initial release of its 2013 guidance, which came with its earnings yesterday after the close. Our higher target price reflects 5.6x 2013 EV/EBITDA target multiple after netting out the impact of the oilsands and Permian holdings. GPOR remains one of the best ways to obtain exposure to the Utica play."
Gulfport Energy Corporation closed at $32.98 on Tuesday.
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