Pedevco price target lowered to $1.50 from $2.25 at D. Boral Capital

D. Boral Capital lowered the firm’s price target on Pedevco (PED) to $1.50 from $2.25 and keeps a Buy rating on the shares. The company reported solid September quarter results considering sequentially lower pricing across the board, the analyst tells investors in a research note. The firm believes Pedevco is continuing to prove its reliability by increasing production volumes.