UPDATE: Barclays Downgrades Ultra Petroleum (UPL) to Underweight; Looking for Better Value Creation Metrics

July 2, 2012 7:50 AM EDT Send to a Friend
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Price: $14.75 -3.41%

Rating Summary:
    5 Buy, 11 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 23 | New: 26
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(Updated - July 2, 2012 2:00 PM EDT)

Barclays downgraded Ultra Petroleum (NYSE: UPL) from Equalweight to Underweight with a price target of $13.00.

Analyst, Thomas Driscoll, said, "...We see UPL, Encana (NYSE: ECA) and Southwestern (NYSE: SWN) as having inferior value-creation metrics, with all three dry gas producers enjoying high multiples as well."

Barclays lowers FY12 EPS estimate from $1.45 to $1.40, FY13 maintained at $0.75.

For an analyst ratings summary and ratings history on Ultra Petroleum click here. For more ratings news on Ultra Petroleum click here.

Shares of Ultra Petroleum closed at $23.07 yesterday.

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