UPDATE: Stifel Nicolaus Raises PT on Range Resources to $90
Stifel Nicolaus is out with its report today on Range Resources (NYSE: RRC), raising its PT from $75 to $90.
In its report, Stifel Nicolaus writes, "Our 12-month target price of $90 assumes the stock maintains a significant (35%+) premium to our peer group as the assumption embedded in our NAV estimate of $151/share are born out over the next 12 months."
Stifel Nicolaus reiterates Buy on RRC.
At the time of posting, shares of RRC were trading at $71.86, down 3.41% from Tuesday's close.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.