UPDATE: Euro Pacific Capital Initiates Coverage on Gulfport Energy with Buy Rating, $65 PT on Utica Growth Driver

In a report published Wednesday, Euro Pacific Capital analyst Joel Musante initiated coverage on Gulfport Energy GPOR with a Buy rating and $65.00 price target.

In the report, Euro Pacific Capital noted, “We are initiating coverage of Gulfport Energy GPOR with a BUY rating and a $65.00 price target. GPOR has two main operating areas, including the south Louisiana Gulf Coast and the Utica Shale play in eastern Ohio. The company's production and reserve base was built on Gulf Coast operations, which consist of oily conventional exploration and development projects. The Utica is the main growth driver for the company, where the firm has recently embarked on an aggressive plan to develop its large, highly concentrated leasehold position in the sweet spot of the play.”

Gulfport Energy closed on Tuesday at $50.28.