UPDATE: Deutsche Bank Initiates Coverage on Gulfport Energy on Positive Outlook

In a report published Monday, Deutsche Bank analyst Josh Silverstein initiated coverage on Gulfport Energy GPOR with a Buy rating and $75.00 price target. In the report, Deutsche Bank noted, “Not far from Canton, Ohio lies the Utica Shale, an asset with Hall of Fame characteristics (significant resource and growth opportunities) with returns that can compete against the current basins driving US oil and gas growth (Eagle Ford, Permian, Bakken, Marcellus). Sitting at the core of the Utica, we view Gulfport Energy as the most levered to future success of the basin with 2014 an inflection point for peer leading debt-adjusted production and cash flow growth. While the pace of infrastructure build out remains key, GPOR looks to have capacity well in hand for the growth opportunity the basin presents. We initiate coverage with a Buy rating and $75 price target.” Gulfport Energy closed on Friday at $56.99
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Posted In: Analyst ColorInitiationAnalyst RatingsDeutsche BankJosh Silverstein
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