InterOil Corp. (IOC)

[Ries]

April 6, 2010 11:35 AM EDT

Shares of InterOil (NYSE: IOC) have moved up sharply in the last few minutes of trading as we are hearing that Morgan Stanley's Evan Calio has named the stock a "Long Research Tactical Idea." Trading in negative territory before the analyst call hit the wires, InterOil shares are now up 4.4% to around $72.81.

Calio has been a Pollyanna in InterOil shares for quite some time now; Morgan Stanley has maintained an Overweight rating on the stock since it initiated coverage late last year, all the while raising the stock's price target to a whopping $120. Even with the stock's recent 25% rise from the end of March (in just six trading sessions), Calio's price target still suggests potential upside of about 65%.


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