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Why Credit Suisse Now Sees Much Larger Upside in Whiting Petroleum Than Peers

Whiting Petroleum Corp. (NYSE: WLL) is no stranger to volatility. Despite having more than doubled from its 52-week low, Whiting shares are still down close to 70% from their 52-week highs. The outlook on oil remains rather mixed, from economists and from analysts alike, but a significant analyst call could be brewing more upside interest for Whiting shareholders ahead.

Credit Suisse issued an upgrade on Wednesday, July 13. The firm sees upside above and beyond what rival analysts are calling for on average. The driving force behind the call also may have a positive spillover for several other companies, if Credit Suisse is right.

Wednesday’s upgrade from Credit Suisse was to Outperform from Neutral. The firm’s Mark Lear and team have noted that Whiting’s stock pullback following its recently announced debt swap has provided investors a compelling entry opportunity for this levered crude player.

What stands out in this upgrade is that Whiting’s price target was raised to $14 from $13. If Credit Suisse’s team is proven to be right, that would imply upside of...