UPDATE: Sterne Agee Group Reiterates Buy Rating, Raises PT on Gulfport Energy Corporation
In a report published Monday, Sterne Agee Group reiterated its Buy rating on Gulfport Energy Corporation (NASDAQ: GPOR), and raised its price target from $38 to $44.00.
Sterne Agee noted, “We are increasing earnings estimates after Gulfport's bullish third quarter earnings report and call late last week. The consistently strong results from the company's first six Utica Shale wells, coupled with increasing visibility on Markwest's gathering line installation and NGL processing capacity, give us comfort in our EBITDA assumptions.”
Gulfport Energy Corporation closed on Friday at $32.03.
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Tags: Sterne Agee Group