UPDATE: Barrington Upgrades Whiting Petroleum

In a note released Monday, Barrington Research, analyst, Rudolf Hokanson raised the price target on Whiting Petroleum

from $88 to $122 and reiterated his Outperform rating. The raised price target comes amid an announcement that Whiting will acquire Kodiak Oil & Gas

in an all-stock transaction worth $6 billion. Although the deal is expected to be completed in the fourth quarter of 2014, Hukanson has not adjusted his 2014 estimates for Whiting. However, he has fully incorporated the acquisition into hi 2015 estimates causing an increase in his EPS estimate from $4.99 to $5.44. Shares of Whiting and Kodiak are up ~7.7 and ~4.4 percent, respectively, in today's session.