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UPDATE: UBS Upgrades Ultra Petroleum

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Top 4 Mid-Cap Stocks In The Independent Oil & Gas Industry With The Highest ROA
Top 4 Mid-Cap Stocks In The Independent Oil & Gas Industry With The Highest ROI
Ultra Petroleum started at Outperform at Imperial Capital (Seeking Alpha)

In a note dated August 14, UBS analyst William Featherston upgraded shares of Ultra Petroleum (NYSE: UPL) from Neutral to Buy and raised the price target from $26 to $29.

As reasons for the upgrade, Featherston noted 1) the "materially accretive" asset swap with Shell, 2) 2014-18 cash flow per debt adjusted share growth is expected to outpace peers, 3) the bear case was removed given "more conservative" oil production guidance, improved capital efficiency, and accretive estimate revisions, and 4) the stock currently trades at a discount to peers based on EV/EBITDX and price/NAV.

Latest Ratings for UPL

DateFirmActionFromTo
Mar 2015Imperial CapitalInitiates Coverage onOutperform
Feb 2015JefferiesMaintainsHold
Feb 2015KLR GroupDowngradesBuyAccumulate

View More Analyst Ratings for UPL
View the Latest Analyst Ratings

Posted-In: UBS William FeatherstonAnalyst Color News Upgrades Price Target Analyst Ratings

 

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