BofA initiated coverage of Gulfport Energy with a Buy rating and $155 price target. The analyst says Gulfport is a “clear beneficiary” of BofA’s constructive view on U.S. gas given that the company’s portfolio is 90% gas. The shares are undervalued with 40% potential upside and Gulfport’s strong free cash flow supports outsized cash returns, the analyst tells investors in a research note.
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Read More on GPOR:
- Gulfport Energy price target raised to $134 from $125 at Mizuho
- Gulfport Energy upgraded to Overweight from Neutral at JPMorgan
- Gulfport Energy upgraded to Overweight from Sector Weight at KeyBanc
- Gulfport raises 2023 production guidance to 1,035 MMcfe – 1,055 MMcfe per day
- Gulfport Energy reports Q2 adjusted EBITDA $144.5M