Rodman & Renshaw Initiates Coverage on Approach Resources (AREX) with a Market Outperform
AREX Hot Sheet
Rating Summary:9 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Rodman & Renshaw initiates coverage on Approach Resources Inc. (Nasdaq: AREX) with a Market Outperform rating and $12 target price.
Rodman analyst says, "AREX is a small-cap E&P company focused on finding and exploiting unconventional reservoirs such as tight sands and shales. The company's key development projects are in West Texas and East Texas, and it has exploratory projects in New Mexico, Kentucky, and British Colombia. We believe the stock's current valuation offers investors an attractive entry point as AREX is trading at a discount to its proved reserves, despite having material upside potential on its existing asset base."
Approach Resources Inc. (Approach) is an independent energy company engaged in the exploration, development, production and acquisition of unconventional natural gas and oil properties in the United States and British Columbia.
Rodman analyst says, "AREX is a small-cap E&P company focused on finding and exploiting unconventional reservoirs such as tight sands and shales. The company's key development projects are in West Texas and East Texas, and it has exploratory projects in New Mexico, Kentucky, and British Colombia. We believe the stock's current valuation offers investors an attractive entry point as AREX is trading at a discount to its proved reserves, despite having material upside potential on its existing asset base."
Approach Resources Inc. (Approach) is an independent energy company engaged in the exploration, development, production and acquisition of unconventional natural gas and oil properties in the United States and British Columbia.
You May Also Be Interested In
- UPDATE: William Blair Starts EPIQ Systems (EPIQ) at Outperform; Broad Suite of Solutions in Electronic Discovery Sector
- UPDATE: Williams Financial Group Upgrades Semtech Corp. (SMTC) to Buy; Check Again...Quarter Was Fairly Strong
- Piper Jaffray Starts Life Technologies (LIFE) at Neutral
Create E-mail Alert Related Categories
New CoverageRelated Entities
Rodman & RenshawSign 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!
