NewsMDU Resources upgraded to "strong buy"
07/08/08 - Wall Street Access
NEW YORK, July 8 (newratings.com) - Analysts at Wall Street Access upgrade MDU Resources Group Inc (MDU) from "buy" to "strong buy," while raising their estimates for the company. The target price has been raised from $30 to $40.
In a research note published yesterday, the analysts mention that the company’s E&P segment is extremely well positioned for additional stellar growth, with the east Texas acquisition likely to be a key driver of production growth in the segment during 2008. The commodity price estimates have been upwardly revised, since natural gas and crude oil prices are tracking above expectations, the analysts add. The EPS estimates for 2008, 2009 and 2010 have been raised from $1.80 to $2.25, from $1.87 to $2.44 and from $2.02 to $2.51, respectively.