JPMorgan raised the firm’s price target on Gulfport Energy to $175 from $162 and keeps an Overweight rating on the shares as part of a Q3 preview. Given the deterioration in the macro environment over the last quarter, management will choose to reduce the capex budget versus pulling forward activity, which should leave fiscal 2024 capex near the low-end of the current range, the analyst tells investors in a research note.
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- Gulfport Energy price target lowered to $162 from $178 at JPMorgan
