In a report published by BMO Captial, SandRidge Energy SD was downgraded from Market Perform to Underperform, and lowered the price target from $6 to $4.
BMO Capital commented that, "...the stock remains significantly overvalued as rates of return in the horizontal Mississippian play aren't strong enough to support the current equity value, capital structure, and spending activity."
SandRidge Energy closed Wednesday at $5.74.
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