UPDATE: Goldman Sachs Initiates Coverage on Midstates Petroleum Company

According to a research report published this morning, Goldman Sachs has initiated Midstates Petroleum Company

with a Neutral rating and $20 PT. Goldman Sachs commented in the report, "We initiate coverage of Midstates Petroleum at Neutral relative to an Attractive coverage view. We see sharp high-margin oil growth coming from key Wilcox fields. With shares having outperformed since IPO, we believe success is needed from drilling on the company's relatively sizeable acreage outside its big four fields for outperformance. We see 27% upside to our $20 6-month DCF-/multiples-based target price." Midstates Petroleum Company closed yesterday at $14.92.