QEP Resources downgraded at Deutsche Bank, shares -2.3%

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

QEP Resources (QEP -2.3%) is downgraded to Hold from Buy with a $34 price target, down from $37, at Deutsche Bank.

Although the firm remains fans of QEP's management and capital allocation approach, it says it can no longer construct a viable thesis of sustainable outperformance.

QEP has made the right moves YTD, shifting its upstream assets to oil and realizing value from the midstream business, but the asset is no longer fundamentally undervalued.