In a report published Friday, Stifel analyst Brian Brungardt Jr. reiterated a Buy rating on Pacific Coast Oil Trust ROYT, but lowered the price target from $11.50 to $9.00.
In the report, Stifel noted, “We are updating our estimates reflecting the material lower commodity environment. Using a weighted scenario analysis and applying a 10% discount rate, we arrive at fair value estimate of approximately $8.99. In turn, we are maintaining our Buy rating and lowering our target price to $9.00.”
Pacific Coast Oil Trust closed on Thursday at $5.32.
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