Sterne Agee Says Buy PetroQuest on Weakness

Sterne Agee has published a research report on PetroQuest Energy PQ stating that the firm is buyers of the company on its current weakness today. In the report, Sterne Agee writes, "We believe shares are oversold after recent competitor downgrades, and that the 2012 outlook remains robust, with the company likely to deliver 10+% production growth within cash flow, with potential upside to growth projections from non-core asset sales." Sterne Agee maintains Buy and $10 price target on PetroQuest, which is currently trading down $0.48 from yesterday's $6.05 closing price.