UPDATE: Morgan Stanley Initiates Coverage On Whiting Petroleum Corp On Balanced Risk-Reward

In a report published Monday, Morgan Stanley analyst Drew Venker initiated coverage on Whiting Petroleum Corp (NYSE: WLL) with an Equal-Weight rating and $104.00 price target.

In the report, Morgan Stanley noted, “We see balanced risk-reward given Whiting's relatively lower growth outlook and shallower inventory as it appears today. However, we believe accelerated growth guidance is possible in the next 12 months, and would be more positive in that scenario.”

Whiting Petroleum Corp closed on Friday at $87.66.