UPDATE: Canaccord Genuity Raises EOG Resources' PT

According to a research report published this morning, Canaccord Genuity has increased EOG Resources'

PT from $147 to $148. Canaccord Genuity commented in the report, "We are increasing our target price $1 to $148 per share due to higher liquids production partly offset by lower NGL/gas price realizations. EOG offers upside similar to the group in our view as it garners a slightly lower multiple ('12E EBITDA) and generates slightly less CFPS growth ('12-'14E). Notably, the Eagle Ford comprises about one-third of capital outlays. We believe the company's Eagle Ford position generates the highest returns available in any large-scale resource play in North America, as several wells have tested at over 3,000 Bopd." Canaccord Genuity maintains its Buy rating on EOG Resources, which closed yesterday at $106.51.