Evolution Petroleum price target lowered to $4.50 from $5 at Northland

Northland lowered the firm’s price target on Evolution Petroleum (EPM) to $4.50 from $5 and keeps a Market Perform rating on the shares as the firm transferred coverage of the stock. The firm likes the company’s low-risk, mature asset acquisition strategy, but updated its model for lower oil prices, the new analyst covering the stock tells investors.