Roth Capital Starts Evolution Petroleum (EPM) at Buy

Roth Capital initiates coverage on Evolution Petroleum (NYSE: EPM) with a Buy rating and a price target of $8.50.

Analyst John White commented, "Our Buy rating and $8.50 per share price target are based on: 1) our net asset value analysis (NAV), which indicates Evolution’s shares are trading at a 22% discount to our NAV, 2) planned increases in NGL and oil production following completion of the proposed NGL plant at the Delhi Field and, 3) our belief that this is a management team with a history of returning cash to shareholders and building shareholder value."

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

Shares of Evolution Petroleum closed at $7.00 yesterday.

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