Ladenburg Thalmann Reiterates Ultra Petroleum Buy, Lowers PT To $60

Ladenburg Thalmann reiterated its Ultra Petroleum

Buy rating and lowered its Ultra Petroleum price target from $64 to $60 in a research report published today. In the report, Ladenburg Thalmann states, " We continue to like the UPL story based on its low-cost position among natural gas producers, its main two large, highly-repeatable plays (Pinedale and the Marcellus), and the option value of the potential from its large but very early-stage Niobrara exploration." Shares of Ultra Petroleum closed Monday at $36.35, reflecting no change from Friday's market close.