Capital One Southcoast Downgrades Arena Resources (ARD) to Neutral
ARD Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
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.
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.
You May Also Be Interested In
- UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
- Barclays Cuts Estimates and Price Target on ADP (ADP); Mixed Data From Investor Day
- Goldman Sachs Cuts Numbers on Tiffany & Co. (TIF) after Weak Q1, Guidance
Create E-mail Alert Related Categories
DowngradesRelated Entities
Capital One SouthcoastSign 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!
