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According to Wunderlich Securities, SandRidge Mississippian Trust I
SDT is downgraded to Hold.
Wunderlich Securities said that it is downgrading SandRidge Mississippian Trust I (
SDT) to Hold from Buy and reducing its price target to $27 from $27.75. Although the current yield remains attractive, as a term trust, the units hold less value as time passes. “The distribution should remain strong over the next several years as SandRidge has hedges in place through 2015. Our price target is below the units' current price, but we believe the yield and growth in the distribution over the next few years are reasons to continue to hold the units.”
SandRidge Mississippian Trust I closed yesterday at $32.61.
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