Range Resources Corp (RRC)

[Timothy Smith]

$RRC’s 1Q13 results and operations update continues to reinforce our confidence in the company's ability to efficiently grow production at a rate of 20-25% per year while at the same time accelerating cashflow growth “for the foreseeable future.”

I continue to see value in the diversified portfolio of development opportunities RRC has amassed. And as time goes by, confidence in longer-term growth visibility, asset quality and management's ability to execute continues to improve, which should support further upside in the stock. I reiterate my Outperform rating and US$91.00 target price. All in my opinion of course.