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Fly News Breaks for October 23, 2018
GPOR
Oct 23, 2018 | 16:55 EDT
Wells Fargo analyst Gordon Douthat downgraded Gulfport Energy to Market Perform from Outperform and lowered his price target to $11 from $18. The analyst believes the "underlying capital efficiency of the company's asset base... will hinder its ability to generate sustainable cash returns for shareholders, while inherently constraining NAV acceleration that otherwise might be available under a higher growth, cash flow outspend scenario." Douthat sees more attractive risk-reward opportunities elsewhere in the sector.
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