Morgan Stanley Affirms Strategy of MDU Resources Group

Morgan Stanley has published a research report on MDU Resources Group MDU. In the report, Morgan Stanley wrote, "We attended MDU's Analyst Day in Denver and came away with an increased understanding of MDU's strategic priorities and growth opportunities. While we received more segment detail, our forecasts remain unchanged. We estimate 2011 and 2012 EPS of $1.45 and $1.57 respectively, driven by oil production growth of 3% and 8%." Morgan Stanley rated MDU Resources Group an Equal-weight with a price target of $24.00. MDU Resources Group closed Thursday at $19.87.