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


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.

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Comments (4)
  • rjj1960
    , contributor
    Comments (1471) | Send Message
     
    SD is the poster child for trying to build a oil dynasty in under 2 years. Borrow money at any cost regardless of what happens to the balance sheet. The only thing that will save this company is a total house cleaning. I have looked at this stock countless times and before I hit the buy button, I remember that Tom Ward is still there.
    5 Feb 2013, 12:49 PM Reply Like
  • TheWayItWorks
    , contributor
    Comments (31) | Send Message
     
    This is JP Morgan saying Tom Ward & his BOD shouldn't be there. I imagine that those invested heavily in SD have come to the same conclusion and will vote the Green Consent in favor of new management.
    5 Feb 2013, 02:32 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Last 3 trading days, 3 downgrades daily. Something is cooking at the back.
    5 Feb 2013, 05:52 PM Reply Like
  • egmjpb
    , contributor
    Comments (30) | Send Message
     
    SD doesn't need board members who do not understand the O&G business ans energy big picture. Way too many E&P companies have these type of boards member who don't have a clue.
    5 Feb 2013, 10:35 PM Reply Like
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