UPDATE: Wunderlich Securities Lowers PT to $60 on Rosetta Resources; 2H Growth Outlook

Wunderlich Securities lowers its price target from $64 to $60 on Buy-rated Rosetta Resources ROSE. Wunderlich Securities comments, "Gearing up for growth during the second half of 2012. Adjusted EPS for the quarter was $0.64 compared to our estimate of $0.79 and consensus of $0.76. CFPS for the quarter was $1.74 compared to our estimate of $2.05 and consensus of $1.89. This was driven mainly by weaker NGL prices, lighter than expected oil volume and higher G&A expense. Oil volume should ramp up in the second half. CAPEX remains unchanged at $640 million. The company's borrowing base increased to $625 million with $30 million drawn as of May 4 2012." ROSE closed at $42.01 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsWunderlich Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!