UPDATE: Wunderlich Securities Reiterates Hold Rating, Raises PT on Northern Oil & Gas, Inc. on Mixed Factors

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Hold rating on Northern Oil & Gas, Inc. (NYSE: NOG), and raised the price target from $5.00 to $8.00.In the report, Wunderlich Securities noted, "Northern Oil & Gas (NOG) reported a very strong 4Q14 as EPS of $0.21 easily topped our $0.14 estimate and the Street's $0.19 forecast. Significantly higher-than-expected production and good revenues caused the beat. This solid production beat put the company at nearly 18,000 boe/day but it likely will not stay there long as Northern guides for flat 2015 production versus 2014, which means it should see declines throughout the year as CapEx spending and activity in the Williston is reduced. Financially, the company still has a solid liquidity position but has run its credit facility up in the past few years so we are a bit cautious about that given a likely cut in its capacity and a continued outspend even at lower spending rates. As such, we remain Hold-rated at this time."Northern Oil & Gas, Inc. closed on Friday at $8.62.