Range Resources jumps as Tudor Pickering Holt upgrades after recent drop

Range Resources (NYSE:RRC) +3.8% in Tuesday's trading after Tudor Pickering Holt upgraded the stock to Buy from Hold with a $33 price target following its 18% plunge in the two weeks after March 3.

In the short term, Range Resources (RRC) is "one of the more defensive gas equities," and over the long term the stock may double by ~2025, Tudor analyst Jacob Roberts wrote.

Range Resources (RRC) said last week CEO Jeff Ventura plans to retire in June, to be succeeded by COO Dennis Degner at the company's annual meeting in May.

The announcement may be a signal the company may be "in play" with the CEO exiting, Dealreporter speculated last week.