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.