Ruling seems to have limited impact on Sable transporting oil, says Jefferies

After Judge Anderle issued a tentative ruling rejecting Sable Offshore’s (SOC) claims against the California Coastal Commission, Jefferies said the ruling seems to have limited impact on transporting oil given that the pipeline is now complete. However, investors are “unsettled and looking for incremental data,” adds the analyst, who believes this ruling will give further credence of investor views that Sable should be focusing on exporting from an OS&T vessel in federal waters. The firm has a Buy rating and $38 price target on Sable shares.