Goldman Sachs Starts Laredo Petroleum (LPI) at Buy

Goldman Sachs initiates coverage on Laredo Petroleum (NYSE: LPI) with a Buy rating and $28 6-month price target, suggesting 26% upside.

The firm said LPI offers an attractive opportunity to gain exposure to the emerging
horizontal Wolfcamp/Cline shale plays in the Permian Basin. "We have a favorable view on these plays and we believe we are in the early phases of a period when prospectivity/resource estimates for these plays get revised materially higher," the analyst said.

For an analyst ratings summary and ratings history on Laredo Petroleum click here. For more ratings news on Laredo Petroleum click here.

Shares of Laredo Petroleum closed at $22.27 yesterday.

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