NEW YORK (TheStreet) -- Petroquest Energy (PQ) was rising 8.82% to $4.32 on Friday afternoon after FBR Capital upgraded shares to "outperform" from "market perform," and raised its target price to $8 from $7.
"Within our small-cap coverage group, PetroQuest Energy provides the best exposure," the firm said in its report. "Also, we are fans of its Thunder Bayou exploratory prospect. We expect results in early 4Q14, and we believe it could be a lookalike to the highly successful La Cantera project and could be worth as much as $2.25 per share. We are also fans of progress achieved in the Woodford liquids shale play. We believe the progress in this area is underappreciated, and could ultimately be worth $7 per share."
The stock also had a much higher volume than average on Friday, as it had reached more than 2 million by 2 p.m., compared to the average of 459,402.
TheStreet Ratings team rates PETROQUEST ENERGY INC as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PETROQUEST ENERGY INC (PQ) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, weak operating cash flow and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: