Analyst Upgrades Rosetta Resources, Shares Jump 5%
January 25, 2010 7:58 PM
Shares of Rosetta Resources, Inc. (Nasdaq: ROSE) surged more than 5% today as Wells Fargo & Company (NYSE: WFC) upgraded the stock from Market Perform to Outperform.
Rosetta Resources is an independent oil and gas company engaged in the acquisition, exploration, development and production of oil and gas properties in North America.
The Wells Fargo analyst said that, "Rosetta Resources has assembled an attractive inventory of development and exploration in a number of U.S. basins. The Eagle Ford offers near term cash flow and production growth, while exploration in the Alberta Basin brings a potential game changer. A highly regarded management team rounds out this increasingly attractive story. Our Outperform rating reflects our increased confidence in positive results from the Alberta Basin."
