UPDATE: Global Hunter Securities Upgrades Gulfport Energy to Buy on Share Run-Up

Global Hunter Securities raised its rating on Gulfport Energy

from Accumulate to Buy and increased its price target from $30 to $43. Global Hunter Securities commented, "Playing catch-up always proves tough to do, but sometimes one just has to quit waiting for a pull-back, step to the plate, and upgrade after a company's stock has run. That's what we're doing with GPOR shares this morning as we upgrade to Buy from Accumulate and increase our price target to $43 from $30. While we expect solid results to continue from the next Utica Shale wells, the Groh and Shugert, as outlined in our recent Well Watcher publications, this upgrade is not a direct response to specific, robust expected data points. Rather, the upgrade is a function of a step-up in our overall expectations for GPOR's operating condition in general and overall Utica prospects." Gulfport Energy closed at $31.56 on Friday.