Markets & Finance

UBS Ups Quicksilver Resources to Buy from Neutral

UBS Financial upgraded Quicksilver Resources (KWK) to buy from neutral, explaining that the company's shares have grown significantly cheaper relative to peers since early October.

Analyst J. David Anderson thinks operational and management-related issues are largely reflected in the company's stock price, while he views its asset base as high-quality with impressive growth potential. He notes that Quicksilver Resources holds acreage positions in two of the more prolific North American resource plays: Canada's Horseshoe Canyon and Barnett Shale in Texas. With 1.3 to 3.3 trillion cubic feet in potential reserves, a 22-year reserve life, 20%+ production growth, and deep drilling inventory, he thinks Quicksilver appears to be a prime acquisition target.

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