Market Overview

UPDATE: Canaccord Genuity Reiterates Hold Rating, Lowers PT on SandRidge Energy

Related SD
Highlight's From Leon Cooperman's CNBC Appearance
Market Wrap For January 7: Markets Reverse 3-Day Slump

In a report published Monday, Canaccord Genuity reiterated its Hold rating on SandRidge Energy (NYSE: SD), but lowered its price target from $6.00 to $4.00.

Canaccord Genuity noted, “We are reducing our target price $2 to $4 per share due to $400 million lower per annum capital spending, a higher gas composition in the Mississippian play and consequently lower oil production outlook. SandRidge's capital spending/production relationship suggests the company's capital intensity is comparable to Bakken/Three Forks players.”

SandRidge Energy closed on Friday at $5.51.

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (SD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free