Ladenburg Thalmann Reiterates Buy, $10 Target on SandRidge Energy

Ladenburg Thalmann maintains its Buy rating and $10 target price on SandRidge Energy SD as the company announces $1 billion Mississippian JV with Repsol. Ladenburg Thalmann says, "SD announced a JV with a subsidiary of Repsol YPF, S.A. (REP: 23.16 EUR; Not Rated), whereby Repsol will acquire a ~25% WI, or 250,000 net acres, in the new Mississippian play (which is located in Western Kansas and is a northwest extension of the original Mississippian play) and a ~16% WI, or 113,636 net acres, in its original Mississippian play." SD closed at $8.21 per share on Thursday.