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Laredo Petroleum (NYSE:LPI) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Friday, AnalystRatingsNetwork reports.

The analysts wrote, “Laredo Petroleum (LPI) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, expanding profit margins, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”

Laredo Petroleum (NYSE:LPI) traded down 0.04% during mid-day trading on Friday, hitting $28.39. The stock had a trading volume of 601,206 shares. Laredo Petroleum has a 1-year low of $16.25 and a 1-year high of $34.60. The stock has a 50-day moving average of $27.45 and a 200-day moving average of $27.25. The company has a market cap of $3.999 billion and a price-to-earnings ratio of 32.24.

Laredo Petroleum (NYSE:LPI) last released its earnings data on Thursday, May 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.35. The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $169.86 million. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Laredo Petroleum will post $0.83 EPS for the current fiscal year.

LPI has been the subject of a number of other recent research reports. Analysts at Brean Capital initiated coverage on shares of Laredo Petroleum in a research note on Friday. They set a “buy” rating and a $36.00 price target on the stock. Separately, analysts at Robert W. Baird initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, April 15th. They set an “outperform” rating and a $35.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at SunTrust upgraded shares of Laredo Petroleum from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 2nd. They now have a $36.00 price target on the stock, up previously from $29.00. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $33.76.

Laredo Petroleum, Inc, formerly Laredo Petroleum Holdings, Inc, is focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian region of the United States.

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