UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Gulfport Energy Corporation on Strong Start to 2014

In a report published Wednesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating on

, and raised the price target from $85.00 to $100.00. In the report, Wunderlich Securities noted, “Last week Gulfport Energy (GPOR) announced its 1Q14 production results, provided an update on production at its first SAGD flood in Canada, and also disclosed the results of its bank redetermination. All three events were rather positive in our view as the company hit guidance despite tough weather during 1Q14, the long-awaited first production was achieved in Canada, and additional liquidity was granted on the credit facility. These positive moves signify a strong start to 2014 for Gulfport that we believe is a sign of even bigger and better things to come as the company looks to ramp production dramatically in 2014. Gulfport remains a Best Idea given its best-in-class assets, multiple value-creating potential non-core monetizations and improving operational/planning execution.” Gulfport Energy Corporation closed on Tuesday at $73.10.