UPDATE: Seaport Global Securities Starts Atmos Energy (ATO) at Buy
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(Updated - November 18, 2016 10:15 AM EST)
Seaport Global Securities initiated coverage on Atmos Energy (NYSE: ATO) with a Buy rating and a price target of $80. Analyst Mark A. Levin sees strong EPS growth.
"Our target assumes the shares trade to 21x estimated 2018 EPS. In addition to the upside potential to our target, ATO's dividend currently yields 2.5%. We favor ATO for several reasons: (1) above-average EPS growth fueled by an exceptionally long runway of pipeline safety/integrity spending, (2) a low-risk EPS profile supported by 100% regulated operations, (3) an exceedingly constructive regulatory backdrop and (4) the potential to be acquired. ATO is our top pick in the space," said the analyst.
Shares of Atmos Energy closed at $71.27 yesterday.
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