UPDATE: Credit Suisse Upgrades Enerplus Corporation to Outperform on Updated View of Commodity Prices

Credit Suisse raised its rating on Enerplus Corporation

from Neutral to Outperform and but reduced its price target from $22 to $21. Credit Suisse noted, "Credit Suisse recently revised its global GDP forecasts from 3.6% and 4.2% for 2012 and 2013 respectively to 3.3% and 3.8%. Based on lower global growth forecasts, Credit Suisse is also now updating its commodity price views. … Incorporating updated oil and gas price forecasts, including the impact of hedges, we have made the following changes to our estimates for Enerplus. Our 2012 operating EPS/CFPS go from C$0.52/3.32 to C$0.39/3.14 while 2013 go from C$1.41/4.55 to C$0.69/3.52. Our 2014 EPS estimate is lowered to C$1.24 from C$2.30." Enerplus Corporation closed at $12.26 on Monday.