Battalion Oil downgraded to Neutral from Buy at Roth MKM

Roth MKM analyst John White downgraded Battalion Oil to Neutral from Buy with a $28 price target. Despite the firm’s price target, it says it is moving its rating to Neutral due to the recent management change as it will need to meet with the new CEO and "discuss with him in detail what his plans are for the business going forward." On April 3, Battalion announced the resignation of CEO Richard Little and the appointment of Matt Steele, who was most recently the CEO of Bruin E&P Partners, a Bakken shale-focused E&P company, as CEO, effective immediately.