UPDATE: Citi Upgrades National Fuel Gas to Buy

Citi is out with its report today on National Fuel Gas

, upgrading NFG from Hold to Buy. In its report, Citi writes, "We are upgrading shares of NFG to Buy from Hold, largely on valuation. Our target price is $64p/s, down from $70p/s previously, mostly as a result of our lower commodity price assumptions and our updated operating model for the company." At the time of posting, shares of NFG were trading at $51.83, up 1.05% from Thursday's close.