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Ultra Petroleum (UPL -3.2%) is reduced to Underperform with a $20 target at Sterne Agee, which...

Ultra Petroleum (UPL -3.2%) is reduced to Underperform with a $20 target at Sterne Agee, which calls shares overvalued and cites a muted outlook for natural gas in 2013. UPL is waiting for prices of $5/million BTUs to accelerate production, a scenario Sterne doesn’t foresee any time soon; the firm also says UPL may issue equity to fund a near-term liquids growth opportunity.
Comments (1)
  • jwat4242
    , contributor
    Comment (1) | Send Message
     
    I don't understand the evaluations based purely on growth. It does not make sense for a purely natural gas based company to grow at times with such cheap natural gas prices. This company is one of the lowest cost producers and has nothing but upside for the future. It is definitely not a quick in and out trade, but instead a buy and hold.
    23 Aug 2012, 12:37 PM Reply Like
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