UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Oasis Petroleum

In a report published Friday, Jefferies reiterated its Buy rating on Oasis Petroleum OAS, and raised its price target from $44.00 to $50.00. Jefferies noted, “We believe visible 2014 growth of 25-30% is not reflected in the stock. Raising PT to $50 from $44 on the view that reserves could grow 41% in '13 and 27% in '14. 2013 production guidance in line with our prior expectations but assumes more wells. We think it could be conservative.” Oasis Petroleum closed on Thursday at $35.88.