SandRidge Energy (SD -1.7%) is downgraded to Underweight with a $5 price target (down from...

|About: SandRidge Energy, Inc. (SD)|By:, SA News Editor

SandRidge Energy (SD -1.7%) is downgraded to Underweight with a $5 price target (down from $9.50) at J.P. Morgan, citing too much risk relative to any potential upside. The firm says if TPG-Axon wins its consent solicitation, the stock probably moves up, but the stock likely gets hit hard if it loses. Regardless, SD seems to need extraordinary measures to avoid a financial crunch.