UPDATE: DA Davidson Initiates Forestar Group at Buy on Growth Outlook

DA Davidson initiated coverage on Forestar Group Inc

with a Buy rating and a $25.00 price target. DA Davidson noted, "Coming out of the box with an established stream of royalty and lease payments, and the knowledge that your land holdings are on some of the most prolific oil & gas formations in the country, is a good way to get started in the oil business. Forestar's Oil & Gas business is growing rapidly due to exploration activity and the recent acquisition of Credo Petroleum; the pending reserve update could be a catalyst for the stock." Forestar Group closed at $18.88 on Thursday.