Global Hunter Securities Reiterates a 'Buy' on Rosetta Resources (ROSE); Take Off Your ROSE Colored Glasses

Global Hunter Securities reiterates a 'Buy' on Rosetta Resources (NASDAQ: ROSE), raises PT from $51 to $62.

Global analyst says, "Rosetta Resources continues to under promise and over deliver stellar results at its Gates Ranch targeting the Eagle Ford Shale. The company estimates it is only recovering 20% of the hydrocarbons in place on 100-acre spacing, setting the stage for downspacing that could double an already robust drilling inventory of 250 locations. The company has also decided to go it alone on its 300,000-acre lease targeting the Alberta Bakken following the completion of nine vertical test wells. With horizontal test wells slated for this summer, ROSE could deliver investors an early Christmas present on its 3Q11 earnings call in November."

For more ratings news on Rosetta Resources click here and for the rating history of Rosetta Resources click here.

Shares of Rosetta Resources closed at $49.48 yesterday.

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