Market Overview

UPDATE: Sterne Agee Upgrades QEP Resources to Neutral, Removes PT Ahead of 4Q Earnings

Related QEP
What Makes QEP Resources (QEP) a Strong Sell? - Tale of the Tape
Morning Movers for Feb. 26, 2014: ANIK, JAKK, ZAGG, PLUG, TASR, ANF Moving Higher, FST, UTIW, SEAC, FSLR, DWA Lower

In a report published Friday, Sterne Agee upgraded its rating on QEP Resources (NYSE: QEP) from Underperform to Neutral, but removed its $28.00 price target.

Sterne Agee noted, “QEP has underperformed our coverage group YTD and we believe our Underperform thesis has played out. While the liquids transition has been slow and costly, initial drilling results from the company's Bakken drilling program have been excellent, and we expect to hear additional details with 4Q earnings next week. Positive near-term drilling catalysts out of the Bakken, coupled with increasingly attractive relative valuations, drive our upgrade to Neutral.”

QEP Resources closed on Thursday at $29.82.

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (QEP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free