Global Hunter Securities Upgrades Petroleum Development Corp. (PETD) to Buy
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Global Hunter Securities upgrades Petroleum Development Corp. (Nasdaq: PETD) from Neutral to Buy and raised their price target from $17.50 to $30 price target.
The firm notes, "Petroleum Development Corp. (PDC) reported better than expected 3Q09 results. The company has strengthened its balance sheet with a recent joint venture and substantial hedging schedule."
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