Laredo Petroleum initiated with an Underperform at Mizuho

Mizuho analyst Nitin Kumar initiated coverage of Laredo Petroleum with an Underperform rating and $55 price target. Although the company has been adding assets since 2020, it continues to lag peers in terms of quality inventory depth, Kumar tells investors in a research note. Further, Laredo’s recent operational challenges have lowered investor confidence in execution, which does not match up with a premium valuation based, says the analyst.