UPDATE: Stifel Nicolaus Raises PT on Range Resources to $90

Stifel Nicolaus is out with its report today on Range Resources RRC, raising its PT from $75 to $90. In its report, Stifel Nicolaus writes, "Our 12-month target price of $90 assumes the stock maintains a significant (35%+) premium to our peer group as the assumption embedded in our NAV estimate of $151/share are born out over the next 12 months." Stifel Nicolaus reiterates Buy on RRC. At the time of posting, shares of RRC were trading at $71.86, down 3.41% from Tuesday's close.