Market Overview

UPDATE: Canaccord Genuity Downgrades SandRidge Energy to Sell; Says Rally Unfounded

Share:
Related SD
Benzinga's Top Upgrades, Downgrades For April 26, 2017
Benzinga's Top Upgrades, Downgrades For February 22, 2017

Canaccord Genuity reduced its rating on SandRidge Energy (NYSE: SD) from Hold to Sell while maintaining its $4 price target.

Canaccord Genuity commented, "Recently, SD has rallied near $7 per share on what we believe is the unfounded expectation that there is a takeout alternative for the company. Accordingly, we reiterate our $4 target price and are downgrading SD from Hold to SELL. Notably, market indications suggest the current clearing price for acreage in the heart of the Mississippian play is ~$1,500/acre including associated production."

SandRidge Energy closed at $6.70 on Friday.

Latest Ratings for SD

DateFirmActionFromTo
Jun 2017Seaport GlobalDowngradesBuyNeutral
Apr 2017MizuhoInitiates Coverage OnBuy
Jul 2015WunderlichUpgradesSellHold

View More Analyst Ratings for SD
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (SD)

View Comments and Join the Discussion!
Loading...
Loading...