Collins Stewart Starts Rosetta Resources (ROSE) at Buy
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Collins Stewart initiates coverage on Rosetta Resources, Inc. (Nasdaq: ROSE) with a Buy rating and $32 price target.
The firm said, "Rosetta offers investors an attractive diverse acreage position that includes both long-lived reserves along with shorter-lived, higher-return reserves. Approximately 96% of the company’s reserves are natural gas and the company operates approximately 90% of its reserve position, which includes developing existing properties, exploring undeveloped properties, and expanding growth prospects through strategic acquisitions." They also said drilling inventory should grow over next 24 months.
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