Wells Fargo Starts Lone Pine Resources (LPR) at Outperform; Multiyear, Low-Risk Inventory

Wells Fargo initiates coverage on Lone Pine Resources (NYSE: LPR) with an Outperform. Valuation range $16-18.

Wells analyst says, "In our view, Lone Pine is still overlooked, which provides an opportunity for investors. Lone Pine represents a Canadian pure play that is undergoing a liquids transition with the capital flexibility to ramp growth. Combined with exploration upside potential and a valuation discount, we view the risk/reward as attractive. Our EPS estimate for 2011 is $0.41 and our 2012 EPS estimate is $1.07."

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

Shares of Lone Pine Resources closed at $10.91 yesterday.

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