UPDATE: Global Hunter Securities Downgrades Rosetta Resources to Accumulate on Mixed Q2 Results

Global Hunter Securities reduced its rating on Rosetta Resources

from Buy to Accumulate and lowered its price target from $63 to $52. Global Hunter Securities noted, "ROSE generated mixed results for 2Q12. The company's oil and liquids production beat our estimates while natural gas production fell more sharply than anticipated due to the timing of asset sales. Higher liquids production was offset due to lower price realization. The disappointing news from its Alberta Bakken exploration program leaves ROSE as a pure play on the Eagle Ford. While results in the play have impressed, we believe multiple expansion could stagnate as investors wait for the next petal on this flower to bloom." Rosetta Resources closed at $44.25 on Thursday.