Credit Suisse Raises WLL Target To $122 From $119

Credit Suisse is raising its 'PD Plus' NAV-based target price on Whiting Petroleum Corporation (NYSE: WLL) to $122 – from $119 – on a lower cost outlook and additional value for its 234k net undeveloped Bakken/Three Forks acres outside of the Sanish field (implies $2.5k per acre).

“Our 2011/12 EPS estimates rise 1%/2% to $7.57/$8.75,” Credit Suisse writes.

Whiting Petroleum currently trades at $116.50.