Wednesday, May 26, 2010

UBS (NYSE:UBS) Raises Petrohawk (NYSE:HK) Estimate

Shares of Petrohawk Energy (NYSE:HK) rose after UBS AG (NYSE:UBS) raised their estimates for the oil and gas company. UBS has a buy rating on the company and a price target of $28 through 2011.

Petrohawk is primarily a natural gas exploration, development and production company, although they do engage in oil production to a lesser degree.

The traded as high as $18.50 a share today, but has dropped back to near its opening of $17.87 a share as I write.

UBS said volume next year should increase for Petrohawk.

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