Firstly, Barclays initiated coverage with an "overweight" rating and a $31 price target. The firm said the company has assembled sizable acreage position in the Utica Shale and Marcellus Shale to support strong production and reserve growth.
Jefferies also initiated coverage with a "buy" rating and set a $28 price target. The firm said the company is expected to deliver robust production and reserve growth over next several years.
The stock was up 1.13% to $24.19 in pre-market trading on Tuesday.
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