Goldman Sachs Upgraded Questar Corp. (STR) to Buy
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Earlier, Goldman Sachs upgraded Questar Corp. (NYSE: STR) from Neutral to Buy and raised their 6-month price target from $42 to $55.
The firm cited three things for multiple expansion: growth potential from non-Rockies plays is reaching critical mass; management has adopted has adopted a more E&P-friendly style; improved financial markets raise the likelihood that management restructures the company to better isolate E&P from regulated assets.
The firm revised 2009-11E EPS after 3Q2009 earnings to $2.79/$2.96/$3.21 from $2.76/$2.78/$2.77.
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