UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on EOG Resources on Bullish Outlook

In a report published Wednesday, Wunderlich Securities analyst Irene O. Haas reiterated a Buy rating on EOG Resources EOG, and raised the price target from $124.00 to $133.00. In the report, Wunderlich Securities noted, “EOG Resources (EOG) has distinguished itself from its peers as a first mover: first to refocus on oil shale and first to plan crude by rail as a transportation scheme. After securing acreage in legacy plays such as the Eagle Ford Shale and the Bakken Play in the Williston Basin, the company nailed the Leonard Play and the Wolfcamp Shale in the Delaware Basin. More recently, the company unveiled four “new” plays in the Rockies, adding 400 million boe of new resource potential. While the legacy plays have been huge growth drivers, we expect more good news from the Eagle Ford and the Williston. We are raising our NAV and price target from $124 to $133 to reflect our bullish view on these two trends.” EOG Resources closed on Tuesday at $116.55.