Tuesday, May 24, 2011

Penn Virginia (PVA) Upgraded by SunTrust (STI)

Shares of Penn Virginia (NYSE: PVA) were upgraded by SunTrust (NYSE: STI) from a "Neutral" rating to a "Buy" rating.

SunTrust cited its proposed increase in production of liquids at Eagle Ford as the catalyst behind their call. They have a price target of $20 on the

Liquids is a highly profitable product.

Penn Virginia is a oil and gas exploration and production company.

Penn was trading at $14.34, gaining $0.42, or 3.02 percent, as of 2:27 PM EDT.

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