$GPOR,...Gulfport Energy gets some analyst love
Gulfport Energy's (GPOR +0.8%) price target is raised to a Street-high $60 from $50 at Wunderlich, which says GPOR's Q4 earnings were "impressive" but even more so was the company's guidance that calls for another 80%-100% growth in production on significantly lower spending as the Utica and Gulfport assets "begins to flex its muscle."
The firm says additional positives included 300% reserve growth and monetization plans for non-core assets that also could prove incremental, which should allow GPOR to remain a top-tier growth player.
RBC raises its price target to $57 from $55, citing GPOR's production guidance even amid fa 42% reduction in capex; Canaccord ups its target to $54 from $46 and says GPOR may be the best positioned name in its coverage universe when considering the company's production growth with little balance sheet stress.
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