Market Overview

UPDATE: JP Morgan Maintains Sandridge at Underweight on TPG-Axon Deal

Share:
Related SD
28 Biggest Movers From Friday
22 Stocks Moving In Friday's Mid-Day Session
Icahn urges SandRidge shareholders to thwart Bonanza Creek purchase (Seeking Alpha)

In a report published by JP Morgan, analyst Joseph Allman maintained an Underweight rating on Sandridge Energy (NYSE: SD). JP Morgan reported that, “On Wednesday after market close, SD announced a settlement with TPG-Axon. The stock might react positively over the near term due to market optimism about possible changes ahead for the company. We expect that the board and management will be successful in making some changes. However, we think SD's high debt level and overhead expenses, even after possible spending and cost reductions, overwhelm the value of the assets.”

Shares of Sandridge closed at $5.85 on Wednesday.

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: JP MorganAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SD)

View Comments and Join the Discussion!