Canaccord Genuity Reiterates a 'Buy' on Rosetta Resources (ROSE); NGL Weakness Priced In; Greater Oil Emphasis Isn't

Canaccord Genuity reiterates a 'Buy' on Rosetta Resources (NASDAQ: ROSE) price target of $64.00 (from $62.00).

Analyst, John Gerdes, said, "ROSE has underperformed the E&P sector by more than 10% the past three months largely due to falling NGL prices, which we believe are stabilizing. Looking forward, investors appear to underappreciate Rosetta’s greater emphasis on higher value oil. Accordingly, we now see 10-20% incremental upside in ROSE."

"Don’t forget about Brent price improvement, Bakken tests: We believe Rosetta should obtain Brent prices for 60% of its Eagle Ford oil output the second half of the year, up from nil previously."

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 $37.49 yesterday.

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