Alta Mesa Resources (AMR) PT Lowered to $6 at Imperial Capital

Imperial Capital analyst, Irene Haas, lowered the price target on Alta Mesa Resources (NASDAQ: AMR) to $6.00 (from $8.00) while maintaining a In-Line rating following the company's 3Q. Revenues were reported at $340mn and adjusted EBITDA was$181mn for the last 9 month period.

While AMR's Chairman, Jim Hackett believes that the economics of the basin remains intact, the delays and technical challenges encountered have negatively impacted the company's valuation.

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