Sable Offshore initiated with a Buy at Roth MKM

Roth MKM analyst Leo Mariani initiated coverage of Sable Offshore (SOC) with a Buy rating and $30 price target Sable is a high-growth company with low base declines, strong field margins, and a plan to return material amounts of capital to shareholders through a dividend and buybacks, the analyst tells investors in a research note. The firm expects “very high” production growth over the next few years.