Gulfport Energy "buy," target price reduced

03/18/08 - Dahlman Rose

NEW YORK, March 18 (newratings.com) - Analysts at Dahlman Rose maintain their "buy" rating on Gulfport Energy Corp (GPOR). The target price has been reduced to $25.

In a research note published this morning, the analysts mention that the company has reported disappointing 2007 results from its fields in South Louisiana. Gulfport Energy has now announced plans to shift spending to Permian and its fields in Bakkan and Canada, the analysts add. The shift in spending is appropriate in terms of the economic results, Dahlman Rose says.