Stifel Reiterates Rating, Lowers Price Target On Pacific Coast Oil Trust On Updated Estimates

In a report published Friday, Stifel analyst Brian Brungardt Jr. reiterated a Buy rating on

, 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.