Capital One SouthCoast Initiates Coverage on Atlas America (ATLS) with an Add; Positive on Merger
More News related to ATLS
- Capital One Southcoast Maintains a 'Neutral on Atlas Energy (ATLS); Watch For Well Results and Potential JVs
- Atlas Energy, Inc. Reports Operating and Financial Results for the Third Quarter 2009
- Trading Radar for 11/05: Starbucks (SBUX), CBS Corp. (CBS), CVS (CVS), Toyota (TM), Thomson Reuters (TRI)
- Atlas Energy Continues Successful Horizontal Marcellus Shale Well Development in Fayette County, Pennsylvania and Reaffirms Production Guidance
- Pritchard Capital Initiates Coverage on Atlas Energy (ATLS) with a Buy; Best Way to Play Marcellus Shale
More News related to New Coverage
- Canaccord Adams Downgrades Golden Star Resources Ltd. (GSS) to Hold
- Barrington Downgrades Perceptron (PRCP) Following Q1 Miss
- DA Davidson Issues Mid-Day Downgrade on FEI Company (FEIC)
- D.A. Davidson Downgrades Sterling Construction (STRL) to Neutral
- BMO Capital Downgrades MF Global (MF) to Market Perform
Capital One SouthCoast initiates coverage on Atlas America (Nasdaq: ATLS) with an Add. Price target $24.
Capital One analyst says, "ATLS is merging with its subsidiary ATN, an MLP, in 2H09, which should increase its investor base and growth profile. At current prices, ATLS is trading at one of the biggest discounts to our estimated NAV in our E&P universe. ATLS's drilling is primarily in the Marcellus Shale, where it has drilled over 100 vertical wells, de-risking its acreage position in SW Pennsylvania. It is at the very beginning of its horizontal program with 3 wells announced to date. If successful, its horizontal drilling program could increase our NAV to over $30 per share based on long-term gas prices of $6.50/Mcf."
To see more analyst ratings on ATLS Click Here.
Atlas America, Inc., through its subsidiary, Atlas Energy Resources, LLC, operates as an independent developer and producer of natural gas and oil.
Related Categories
New CoverageStocks Mentioned
-0.06Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
