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UPDATE: Credit Suisse Reinstates Coverage on Gulfport Energy Corporation with Outperform Rating, $40 PT

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In a report published Friday, Credit Suisse reinstated coverage on Gulfport Energy Corporation (NASDAQ: GPOR) with an Outperform rating and $40.00 price target.

Credit Suisse noted, “GPOR has almost single-handedly revived interest in the emerging Utica shale, having reported its initial horizontal result in early August 2012 with its Wagner 1-28H well that had an IP of 4.7 mboe/d assuming full ethane recovery. The Wagner well was clearly an eye-opener after the market had been unimpressed with results since CHK unveiled the play in September 2011 with its Buell 8H that IP'd at 3 mboe/d. GPOR's subsequent two wells did not disappoint either, with IP rates of 3.5 mboe/d and 4.9 mboe/d, respectively. We expect to get results from GPOR's fourth well, the Groh 1-12H (first industry result in northern Guernsey County, OH), next week ahead of the 3Q12 earnings call.”

Gulfport Energy Corporation closed on Thursday at $31.56.

Latest Ratings for GPOR

DateFirmActionFromTo
Feb 2018B. RileyInitiates Coverage OnNeutral
Jan 2018Wells FargoMaintainsOutperformOutperform
Jan 2018Morgan StanleyMaintainsUnderweightUnderweight

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Posted-In: Credit SuisseAnalyst Color Initiation Analyst Ratings

 

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