Evolution Petroleum price target lowered to $4 from $4.50 at Northland

Northland lowered the firm’s price target on Evolution Petroleum (EPM) to $4 from $4.50 and keeps a Market Perform rating on the shares. The fiscal Q1 report was “solid,” slightly beating the firm’s estimates, but Northland trims its price target due to lower benchmark commodity prices, the analyst tells investors.