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PetroQuest Energy sell-off based on misinterpretation, says Sterne Agee

After shares of PetroQuest Energy dropped this year, Sterne Agee believes that investors are misinterpreting the rationale behind the delay in its Mississippi Lime activity, which the firm sees as bullish for the stock. The firm expects the company to surpass its 2013 guidance, and it maintains a $9 price target and Buy rating on the shares.