Mizuho Securities Starts QEP Resources (QEP) at Buy

October 5, 2016 4:03 PM EDT
Get Alerts QEP Hot Sheet
Price: $17.08 -3.06%

Rating Summary:
    20 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
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Mizuho Securities initiates coverage on QEP Resources (NYSE: QEP) with a Buy rating and a price target of $24.00.

Analyst Timothy Rezvan commented, "The turn in sentiment in QEP shares remains in the early stages, and we urge investors to put fresh eyes on a mid cap, oily producer likely to have a more focused portfolio in '17. We see few Permian-levered names trading at less than QEP's 6.9x 2017E EV/EBITDA. Management has been candid that it wants to rationalize the portfolio, and a sale of Wyoming's Pinedale field for $1 billion or more could be a transformative event funding steeper oil growth through the end of the decade."

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 $18.37 yesterday.

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