Collins Stewart Starts RAM Energy Resources (RAME) at Buy
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Collins Stewart initiates coverage on RAM Energy Resources, Inc. (Nasdaq: RAME) with a Buy rating and $9 price target, saying the company's attractive acerage position warrants a strong buy.
The firm said, "The company's acquisition of the Ascent properties late last year has diversified its acreage base, materially increased its production and reserve base as well as its drilling inventory and provided very significant upside potential on undeveloped acreage. The development of acreage from this acquisition has the potential to provide the basis for materially higher shareholder value over the next 12-24 months."
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