From Notable Calls
J.P. Morgan is out with a major call on Petroquest Energy (NYSE: PQ) upgrading it to Overweight from Neutral with a $12 price target.
The 21% stock price decline over the past week offers an attractive entry point for investors, in JPM's view. Catalysts include the near-term drilling and completions of four Woodford Shale wells and the results of a Gulf Coast exploration well. The company has acreage in East Texas that is 14 miles from CHK’s recently announced 9.4MMcfepd Bossier Shale well, so PQ has potential in the Bossier as well as the Haynesville.
Re-starting Woodford drilling. PQ re-started its drilling program in the Woodford two weeks ago. During 4Q09, PQ ...
This article: 578 words
Date Published: Oct 29, 2009 09:21AM
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