UPDATE: Rodman & Renshaw Raises Price Target on Stone Energy to $38

According to Rodman & Renshaw, Stone Energy

price target is raised to $38. Rodman & Renshaw said that SGY reported Q4 EPS of $0.93, topping our estimate of $0.92 as well as the consensus of $0.84. “CFPS of $3.14 handily beat both our estimate of $2.71 and the consensus of $2.63. However, the company also benefitted from unusually high deferred taxes which, if normalized, would have yielded CFPS of $3.03 (still a beat).” Stone Energy closed yesterday at $34.19.