Will This Coverage Initiation Help Parsley Energy (PE) Stock Today?

NEW YORK (TheStreet) -- Shares of Parsley Energy Inc. (PE) are higher by 1.02% to $23.86 in pre-market trading today after analysts at Credit Suisse (CS) initiated coverage on the stock with an "outperform" rating and $31 price target.

The firm said it started the independent oil and natural gas company with a strong rating because "our bottom-up analysis suggests that PE's business model is poised to deliver top-tier liquids and cash flow growth."

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