Pacific Coast Oil Trust (ROYT +1.1%) as initiated at Outperform with a $20 target by Baird,...

|About: Pacific Coast Oil Trust (ROYT)|By:, SA News Editor

Pacific Coast Oil Trust (ROYT +1.1%) as initiated at Outperform with a $20 target by Baird, which estimates the current market value implies an IRR of 9%. The firm notes that units have lost 12% since ROYT's IPO amid falling Brent crude oil prices but states the company is its top royalty trust under coverage with 24% total return potential.