UPDATE: Deutsche Bank Raises PT to $130 on EOG Resources

Deutsche Bank increases its price target $3 to $130 on Buy-rated EOG Resources

on the high likelihood of quarterly beat and guidance raise among large cap E&Ps. Deutsche Bank says, "We continue to see EOG as the most likely beat and raise (production & cash flow) story amongst the large-cap E&Ps. While liquids production growth guidance was raised to 30% (from 27%), guidance still implies flat 1H12 volumes and the sale of ~3 mbpd of volumes, which raised market concerns about the 'beat & raise' thesis. After reviewing our per play estimates and year end disclosure, the ~40% liquids growth thesis is intact." EOG closed at $109.02 a share on Thursday.