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Goldman Sachs Upgrades Bill Barrett (BBG) to Buy, Sees Higher Nat-Gas Prices

April 5, 2013 8:39 AM EDT Send to a Friend
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Price: $25.23 +2.64%

Rating Summary:
    7 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 10 | New: 7
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Goldman Sachs upgraded Bill Barrett (NYSE: BBG) from Neutral to Buy with a price target of $27.00 (from $25.00). Analyst Brian Singer said he no longer see a surplus in natural gas and thinks prices will rise to upper end of $4.00-$4.50 per MMBtu range.

"We continue to view Southwestern Energy (NYSE: SWN)/ Cabot (NYSE: COG) among E&Ps, Cloud Peak (NYSE: CLD) among coal, Halliburton (NYSE: HAL)/ Basic Energy (NYSE: BAS) / Nabors (NYSE: NBR) among oil service, and NRG Energy (NYSE: NRG) among IPPs as our favorites for natural gas exposure across sectors," said Singer.

"We upgrade Bill Barrett to Buy from Neutral, as we see BBG as an E&P in the early stages of an improving resource base trading at an attractive valuation likely to be supported by rising gas prices," added the analyst.

For an analyst ratings summary and ratings history on Bill Barrett (NYSE: BBG) click here. For more ratings news on Bill Barrett click here.

Shares of Bill Barrett closed at $19.75 yesterday.




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