Roth sees Sable Offshore pipeline restart in near future after ruling

Roth Capital analyst Leo Mariani says a California court issued a tentative ruling partially granting preliminary injunctions to temporarily block Sable Offshore (SOC) from restarting its pipelines for 10 days following the day it submitted all required permits, with the temporary restraining order remaining in effect until a written court decision is issued. The ruling means the “path is paved” for the company to receive a final affirmative ruling that its offshore pipeline can be restarted in the “very near future,” the analyst tells investors in a research note. Roth expects Sable Offshore shares to continue to rally on the ruling. It has a Buy rating on the name with a $34 price target The stock closed Thursday up 28%, or $6.27, to $28.34.