Dallas, Texas 04/23/2014 (FINANCIALSTRENDS) – Analysts seem to be split between a “hold” and “buy” for Rosetta Resources Inc. (NASDAQ:ROSE) in the lead up to its impending quarterly earnings report release on May 6, 2014. The stock price for ROSE is definitely nudging upwards, but you wouldn’t guess that if you took a look at the divided house of analysts tracking it.
The Analyst Ratings for ROSE
Among the boatload of analysts covering Rosetta Resources, nine have most recently provided a “buy” rating and another nine say “hold.” But that’s only half the story, because they arrive at this equal split from very different places.
Zacks upgraded ROSE from underperform to neutral, with a price target of $44.80. Goldman Sachs initiated coverage for ROSE with a “neutral” rating. RBC Capital kept the outperform rating, but lowered the price target from $60 to $58. Citigroup analysts likewise lowered the price target for ROSE from $58 to $56. SunTrust kept the “neutral” rating and hiked its price target for ROSE from $50 to $58.
There’s a whole lot more, but the picture that emerges from these rating fluctuations is that Rosetta Resources is still on course to outperform or at least maintain it’s current course, and the $48-49 stock price it’s at now is still a long way from the $58 or so price target set by most analysts.
Some of this may also be due to the fact that the company announced an amendment of its Senior Revolving Credit Facility to increase the borrowing base from $800 million to $950 million.
The Earnings Call
Rosetta Resources announced that it will hold its first quarter 2014 conference call on Tuesday, May 6, 2014. The earnings call, to be hosted by Rosetta Resources Chairman, Chief Executive Officer and President Jim Craddock, will be broadcast live on the Internet and can be accessed through the company’s website.