Credit Suisse Assumes Coverage Of RRC

Credit Suisse analyst Mark Lear is assuming primary coverage of Range Resources RRC. “Our Outperform Rating and $58 Target Price remain unchanged. On 4/26, RRC reported adjusted 1Q11 EPS of $0.22 vs. our $0.17 estimate and the First call consensus estimate of $0.19,” Credit Suisse writes. “Relative to our estimates, the earnings variance was due to lower DD&A (+$0.02), lower G&A (+$0.02) and lower interest expense (+$0.01).” Range Resources currently trades at $54.85.