UPDATE: Canaccord Initiates Ultra Petroleum with Hold on Drilling Plan Uncertainty
August 20, 2013 at 11:17 AM EDT
In a report published Tuesday, Canaccord Genuity analyst Robert Christensen initiated coverage on Ultra Petroleum Corp. (NYSE: UPL ) with a Hold rating and $22.00 price target. In the report, Canaccord Genuity noted, “UPL is a very low-cost producer of natural gas with potential upside in a rising price environment.