UPDATE: Brean Murray Carret Raises Warren Resources' PT

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According to a research report published earlier today, Brean Murray Carret has increased Warren Resources'
WRES
PT from $4.25 to $5.25. In the report, Brean Murray Carret commented, “The average cost per well in California in the Wilmington Townlot Unit in 2011 was ~$1.6 million vs. our $2 million assumption, while the company's inventory in the Tar Formation increased by 20 locations in 2011, driving our target price up $1/share.” Brean Murray Carret maintains its Buy rating on Warren Resources, which is currently trading at $3.56.
Posted In: Analyst ColorPrice TargetAnalyst RatingsBrean Murray Carret
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