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Wells Fargo Upgrades Rosetta Resources (ROSE) to Outperform, Shares Attractive

May 16, 2013 8:19 AM EDT Send to a Friend
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Price: $49.13 --0%

Rating Summary:
    21 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wells Fargo upgraded Rosetta Resources (NASDAQ: ROSE) from Market Perform to Outperform with a price target of $63-$67 (from $52-$56). Analyst Gordon Douthat thinks shares are attractive.

"While our upgrade is in part based on an attractive valuation, from a strategic standpoint, we like the direction the company is headed," said Douthat. "Over the last few months, management has addressed many of our concerns, namely inventory and long-term production growth visibility. With the Permian acquisition, the inventory overhang has been effectively removed and now that the financing of the transaction has also been addressed, we think shares are attractively priced."

For an analyst ratings summary and ratings history on Rosetta Resources click here. For more ratings news on Rosetta Resources click here.

Shares of Rosetta Resources closed at $46.94 yesterday.




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