Seeking Alpha

Rosetta Resources upgraded at KLR following recent selloff

  • Rosetta Resources (ROSE +0.6%) is benefiting slightly from an upgrade from KLR Group, which raises its rating to Accumulate from Hold and announces a $59 price target after shares have sold off ~7% since Aug. 11.
  • ROSE has significant upside potential in the Eagle Ford and Delaware Basin sites, the firm says, seeing the two locations driving 30% growth in 2015.
  • An Upper Eagle Ford pilot test has been successful, exhibiting similar performance as Lower Eagle Ford, according to KLR; in the Delaware Basin, only 4-5 rigs are currently in place while ROSE plans to add 20 more in 2014.
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