Goldman Sachs Upgrades QEP Resources (QEP) to Buy; Analyst Notes Improved Assets

Goldman Sachs upgraded QEP Resources (NYSE: QEP) from Neutral to Buy with a price target of $19.00. Analyst Pavan Hoskote thinks improved assets will drive oil growth.

"QEP shares have consistently lagged peers by 20% over the past five years primarily due to: (a) unfavorable investor view on asset quality; (b) below peer average organic production growth. We believe going forward QEP shares should outperform as its improved asset quality (via acquisitions over the past few years) should drive differentiated organic growth in 2016. Also, in the current depressed commodity environment we believe investors will place a greater value on QEP’s historical strength – clean balance sheet and low cash flow multiples," said Hoskote.

For an analyst ratings summary and ratings history on QEP Resources click here. For more ratings news on QEP Resources click here.

Shares of QEP Resources closed at $15.21 yesterday.

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