Goodrich Petroleum Is Proactively Positioning For A Challenging Market, Says MLV
MLV analyst Chad Mabry maintained a Buy rating on Goodrich Petroleum (NYSE:GDP) with a $7.00 price target, which implies an upside of 73% from current levels.
Mabry noted, “Shares of GDP are reflecting going concern issues which do not appear fully warranted at this juncture. In the face of a challenging market, the company is proactively positioning itself to survive by reducing capex, focusing on liquidity enhancement, and improving returns on its core assets. We’re believers that it can execute on this strategy and reiterate our Buy rating on an improved liquidity outlook.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chad Mabry has a total average return of -48.0% and a 6.1% success rate. Mabry has a -54.1% average return when recommending GDP, and is ranked #3409 out of 3412 analysts.