Looks like the downgrade was based on chicken guts and crows feet.
A pure valuation call related to voodoo TA.
Kodiak Oil & Gas (NYSE:KOG) has potential upside of 20.3% based on a current price of $9.40 and analysts' consensus price target of $11.31. Kodiak Oil & Gas shares have support at the 50-day moving average (MA) of $8.97 and additional support at the 200-day MA of $8.83.