Capital One Southcoast Downgrades Arena Resources (ARD) to Neutral
More News related to ARD
- Armada Posts Record Q2 Revenue
- Armada Posts Record Q2 Revenue
- SunTrust Upgrades Arena Resources (ARD) to Buy
- UBS Upgrades Arena Resources (ARD) to Buy
- Notable Insider Trades 12/29 (LM, OPTR, MED, CTXS, AM, COST, more...)
More News related to Downgrades
- S&P Lowers Pinnacle Entertainment (PNK) Outlook from Stable to Negative
- Mindspeed (MSPD) Moving Lower as Brigantine Downgrades to Hold
- Davenport Downgrades Electronic Arts (ERTS) to Sell; Lowers Q4, 2010-11 Estimates
- Stifel Nicolaus Downgrades Parkway Properties (PKY) to Sell
- Craig-Hallum Downgrades Terremark (TMRK) to Accumulate
Capital One Southcoast downgrades Arena Resources (NYSE: ARD) from Add to Neutral. Price target increased from $41 to $43.
Capital One analyst says, "We are increasing our ARD target by $2 to $43 but downgrading the stock to NEUTRAL from ADD as our new target represents <1% upside...Our take: ARD is a well-run company with great oil exposure and an outstanding balance sheet that we believe is currently fully valued. We could arrive at a higher valuation by modeling a higher number of well locations and higher commodity prices, but we don't believe either is warranted at this time. We currently model average Fuhrman-Mascho wells in line with the 35 Mboe mentioned by the company in its earnings call yesterday."
To see more analyst ratings on ARD Click Here.
Arena Resources, Inc. engages in the acquisition, exploration, development, and production of oil and natural gas properties.
Related Categories
DowngradesStocks Mentioned
+0.47Related 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!
