Enduro Royalty Trust cut to Sell at Stifel

|About: Enduro Royalty Trust (NDRO-OLD)|By:, SA News Editor

Enduro Royalty Trust (NDRO -19.2%) is downgraded to Sell from Hold with a $2 price target at Stifel, which views the trust as overvalued given the 2015 PV-10 valuation.

Stifel also expects NDRO to underperform peers, anticipating the distribution will be suspended given the lag in production; the most recent payment in March reflected oil production in November 2015 and gas production from October 2015.

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