- Gulfport Energy (GPOR +2.7%) is upgraded to Buy from Hold with a $70 price target at Stifel Nicolaus, which believes the valuation is attractive and that the key risks and concerns cited in its May downgrade (production growth, well type curves) have mostly dissipated with Q2 earnings results.
- Well performance had been below type curves, Q2 production was being guided for no sequential growth, and FY 2014 guidance was being reduced; since then, Q/Q growth has resumed, new well type curves are performing better than previous wells, and valuation is much more attractive with the correction in the stock since May.