Roth Capital analyst Leo Mariani expects shares of Sable Offshore (SOC) to react positively on Monday after Reuters reported the company is in talks with the U.S. government for financing its Santa Ynez oil project. Reuters also reported that Sable would need about $1.7B in funding to implement a floating storage strategy it proposed as an alternative to marketing crude from the Santa Ynez field off California by pipeline, the analyst tells investors in a research note. Roth keeps a Buy rating on the shares with a $28 price target
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOC:
- Sable Offshore falls after California alleges compliance deficiencies
- Roth expects ‘slight’ selloff in Sable Offshore from California letter
- Sable Offshore Addresses Compliance Allegations in California
- Sable Offshore Corp call volume above normal and directionally bullish
- Energy Secretary post positive for Sable Offshore, says Roth Capital