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UPDATE: Bank of America Downgrades Sandridge Mississippian Trust II on Production, Distribution Outlook

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UPDATE: Wunderlich Securities Downgrades SandRidge Mississippian Trust II to Hold on Weaker Cash Flows

Bank of America downgraded Sandridge Mississippian Trust II (NYSE: SDR) from Neutral to Underperform and lowered the price target from $19.00 to $14.00.

Bank of America noted, "We are reducing our PO based on our lack of confidence in the company's ability to meet its targeted production and cash distribution stream. Our new PO is based on our NAV model anchored on our revised assumptions for the reserves and production estimates. However, our analysis of the well results over the last one year period, suggest that SDR wells are underperforming SD wells implying future production and distributions could be under further pressure. Accordingly, we are moving to Underperform and are cutting our PO to $14 from $19."

Sandridge Mississippian Trust II closed at $15.04 on Wednesday.

Latest Ratings for SDR

Oct 2014Raymond JamesDowngradesUnderperformMarket Perform
Aug 2014Raymond JamesDowngradesMarket PerformUnderperform
Oct 2013RBC CapitalDowngradesSector PerformUnderperform

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Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings


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