Rodman & Renshaw Maintains Outperform Rating on Hyperdynamics Corp, lowers PT to $4.50

Rodman & Renshaw has maintained its Outperform rating on Hyperdynamics Corp

and has lowered the company's price target from $6 to $4.50 in a research report out today. In the report, Rodman & Renshaw writes, "We're going to stick with our Market Outperform rating at this time as HDY's current valuation already discounts a lot of bad news and the stock should move materially higher if Sabu-1 is a discovery (and given Sabu's P50 potential of ~260 MMBo, a discovery could catapult it well above our target price)." Shares of Hyperdynamics Corp closed today $2.50, down 1.96% from yesterday's market close.