Morgan Stanley Resets Expectations on Bill Barrett Corporation Following Weaker Guidance

In a report published Wednesday, Morgan Stanley analyst Drew Venker reiterated an Overweight rating and $40.00 price target on

. In the report, Morgan Stanley noted, “2014 oil production guidance disappointed, but it's conservative; we expect volumes biased upward vs. this initial guidance. Operations: recent wells in BBG's southern Niobrara acreage were among the better wells tested. We expect shares to be weaker following the weaker guidance.” Bill Barrett closed on Tuesday at $27.69.