Market Overview

UPDATE: Credit Suisse Initiates SandRidge Energy at Neutral; Value Hampered by Unproductive Capex

Related SD
Benzinga's M&A Chatter for Tuesday July 8, 2014
Should SandRidge Energy (SD) Be On Your Radar Now? - Tale of the Tape

Credit Suisse initiated coverage on Sandridge Energy (NYSE: SD) with a Neutral rating and a $6.30 price target.

Credit Suisse noted, "We are initiating coverage of SandRidge with a Neutral rating and target price of $6.30, assuming 6.0 times 2013E EBIDA. SD is essentially a pure play on the Mississippian. We expect shares to be range bound in 2013, given continued outspend and significant levels of unproductive capex, which will likely mask value-creation potential from this intriguing play."

SandRidge Energy closed at $5.63 on Tuesday.

Posted-In: Credit SuisseAnalyst Color Initiation Analyst Ratings

 

Related Articles (SD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters