Zacks Investment Research upgraded shares of Range Resources Corporation (RRC) from NEUTRAL to OUTPERFORM on March 08, 2013, with a target price of $95.00.
We are upgrading our recommendation to Outperform from Neutral on Range Resources following its fourth quarter 2012 results. The company reported robust quarterly earnings on the back of solid contribution from the Marcellus plays associated with liquid volume growth. We are hopeful that Range Resources' record production growth profile, along with its sale of non-core properties, will prove beneficial over time. Additionally, the robust asset base of Range Resources especially in the Marcellus Shale, the Appalachian Basin and the southwestern U.S., will help in the growth of the company.
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