UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Oasis Petroleum
In a report published Friday, Jefferies reiterated its Buy rating on Oasis Petroleum (NYSE: 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.
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