UPDATE: Jefferies Reiterates Buy Rating, Raises PT on EOG Resources Following Eagle Ford Growth

In a report published Thursday, Jefferies analyst Biju Z. Perincheril reiterated a Buy rating on EOG Resources

, and raised the price target from $155.00 to $160.00. In the report, Perincheril noted, “Driven by tremendous growth in the Eagle Ford, we forecast EOG is poised to generate free cash flow in 2014. The company is already returning cash to shareholders in the form of a growing dividend, but we believe the greatest creation of value comes from EOG's ability to use organic cashflows to accelerate development of the Eagle Ford. The company can rapidly increase P1 value by doing so.” EOG Resources closed on Wednesday at $135.69.