Analyst Upgrades Rosetta Resources Stock

NEW YORK (AP) — Shares of energy company Rosetta Resources Inc. climbed 2 percent Tuesday after analysts upgraded the stock and estimated the company had boosted the value of its natural gas assets.

In a research note, FBR Capital Markets analysts upgraded Rosetta Resources to "outperform" and revised its target price to $15 a share. The analysts praised the company's expanded natural gas positions, including the Eagle Ford area in south Texas and the Alberta Bakken area in Montana.

FBR said Rosetta increased its holdings at Eagle Ford to 35,000 acres. It's already drilled two vertical wells and is in the process of building two horizontal wells in the third quarter.

While it's tough to estimate what it will get from that area, FBR analysts said it believes Rosetta is looking "in the right zip code."

Rosetta shares increased 20 cents, or 1.7 percent, to $11.93 in midday trading.