QEP Resources -2.2% on Barclays downgrade

|About: QEP Resources, Inc. (QEP)|By:, SA News Editor

QEP Resources (QEP -2.2%) is downgraded to Equal Weight from Overweight with a new $31 price target, down from $36, at Barclays as the firm lowers its 2014 and 2015 debt-adjusted cash flow estimates by 14%, primarily reflecting negative revisions in production forecasts following the disappointing outlook provided by QEP earlier this year.

Barclays is cutting 2014-15 production estimates by 11% and 16%, respectively, including 8% and 9% cuts in oil production.