Williams Capital initiates coverage on Gulfport Energy Corporation GPOR with Buy rating and $36 price target. The analysts view the share price underperformance as an opportunity to buy a high quality Utica shale player with a visible peer-leading production and reserve growth profile.
"With 26.0% upside to our PT, we are adding GPOR to our top picks bucket," wrote the analysts.
The shares are trading at 8.4x and 5.5x EV/EBITDA for 2017 and 2018 compared to its peers' average multiples of 9.3x and 6.9x, respectively.
The $36 price target implies 2017 and 2018 EV/EBITDA metrics of 10.2x and 6.6x, respectively.
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