UPDATE: Jefferies Lowers PT on Whiting Petroleum Corporation from $70 to $65

Jefferies maintained a Buy rating on Whiting Petroleum Corporation (NYSE: WLL) and lowered its price target from $70 to $65.

Jefferies remarked, “Near-term there is upside to '12 growth targets, with double-digith growth expected again in '13, although WLL is outspending CF to achieve this. But balance sheet has plenty of capacity. Shares continue to be attractive on P1 valuation ($59 on $95/$4 deck).”

Whiting Petroleum Corporation closed at $39.52 on Thursday.

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