UPDATE: Stifel Nicolaus Upgrades Rosetta Resources to Buy with a $55 PT on Improved Outlook

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Stifel Nicolaus raised its rating on Rosetta Resources
ROSE
from Hold to Buy and established a $55 price target on shares. Stifel Nicolaus commented, "The main rationale for the upgrade is our improved 2013 company outlook and increased confidence in positive 2H operational upside. While the company does not provide quarterly guidance, we believe that 3Q will show volume surprise to the upside, the oil mix becoming a greater part of a relatively flat liquids mix, and a continued improved realized oil pricing. These trends should continue in 4Q and allow full year production to come in closer to the high end of the 35-38 mboe/d guidance range." Rosetta Resources closed at $46.24 on Friday.
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