Scotia Capital Has Sector Perform on Range Resources

Scotia Capital is out with a research report on Range Resources Corporation

and it has a Sector Perform rating and a $80 price target on shares. In a note to clients, Scotia Capital writes, "Results better than expected. Q3/11 production (reported Oct. 18) of 537 mmcfe/d was 4% above our estimate. The beat was driven by the company's infrastructure build proceeding faster than anticipated. CFPS of $1.19 was 13% above our estimate (and 11% above consensus). Higher production and lower operating costs accounted for difference." Shares of RRC are up 71 cents to $70.73.