BUZZ - Sable shares rise; JPMorgan initiates coverage with an "Overweight" rating

October 2 - ** California-based oil and gas company Sable Offshore Corp (SOC.N) rose 3.95% in pre-market trading to $3.42

** JPMorgan initiated coverage on the stock with an “overweight” rating and a target price of $10, stating the stock is undervalued

** The brokerage noted that the company’s offshore oil fields can reduce the expenditure needed to maintain production and support cash flow

** JPMorgan stated that despite regulatory challenges, SOC can continue oil production, and federal government support will help it maintain pipeline rights and crude oil sales channels

** Out of 6 brokerages, 5 rated the stock “buy” or above, and 1 rated it “hold”; the median target price is $10 — data compiled by LSEG

** As of the close of the previous trading day, the stock had fallen 23.09% year-to-date

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