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Thursday, November 12, 2009
Energy Firms Draw Fresh Lazard Capital Coverage
By Steve Gelsi
MarketWatch Pulse
NEW YORK -- Lazard Capital Markets on Thursday added a handful of domestic energy producers to its analyst coverage portfolio. Lazard initiated coverage of Quicksilver Resources with a buy rating and a $20 price target on strength in the company's Barnett shale production. Lazard assigned a buy rating and $59 price target to Cimarex Energy Co. , which drew praise for its portfolio and disciplined management. Cabot Oil & Gas also earned a buy rating, with a price target of $48 a share, with Lazard citing the company's growth potential in the Marcellus shale. Lazard rated Range Resources Inc. as a hold and said the company deserves a premium valuation for its Marcellus shale holding. Whiting Petroluem Corp. drew a buy rating and a price target of $79 a share.
Copyright © 2009 MarketWatch, Inc.
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