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UPDATE: Canaccord Initiates QEP Resources with Hold on Mixed Factors

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In a report published Tuesday, Canaccord Genuity analyst Robert Christensen initiated coverage on QEP Resources (NYSE: QEP) with a Hold rating and $31.00 price target.

In the report, Canaccord Genuity noted, “QEP is still in the midst of a transition from natural gas to oil production. We are encouraged by its oil results thus far in the Williston Basin, but we feel that the stock is still too weighted to its Haynesville/Rockies/MidContinent natural gas plays, two of which are relatively high cost. The high debt load is also a concern.”

QEP Resources closed on Monday at $28.68.

Latest Ratings for QEP

DateFirmActionFromTo
Jan 2021StifelDowngradesBuyHold
Dec 2020JP MorganUpgradesNeutralOverweight
Aug 2020Wells FargoMaintainsEqual-Weight

View More Analyst Ratings for QEP
View the Latest Analyst Ratings

 

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Posted-In: Canaccord Genuity Robert ChristensenAnalyst Color Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
View the Latest Analytics Ratings
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