Canaccord Genuity Assumes Coverage on Approach Resources (AREX) at Buy; Meaningful Catalysts to Drive Horizontal Wolfcamp Potential
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Price: $0.08 --0%
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
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Canaccord Genuity assumes coverage on Approach Resources (NASDAQ: AREX) with a Buy. PT lowered from $41 to $38.
Canaccord analyst, Marcus Talbert, says, "We assume coverage of Approach Resources, maintaining a BUY rating with a revised target price. At present, Approach remains one of our favorite small cap stocks based on its management team and industry-leading leverage to horizontal oil in the Permian Basin. We think AREX will outperform on a relative basis given the heightened industry activity and greater investor interest in the emerging trends of Midland Basin."
For more ratings news on Approach Resources click here and for the rating history of Approach Resources click here.
Shares of Approach Resources closed at $21.58 yesterday.
Canaccord analyst, Marcus Talbert, says, "We assume coverage of Approach Resources, maintaining a BUY rating with a revised target price. At present, Approach remains one of our favorite small cap stocks based on its management team and industry-leading leverage to horizontal oil in the Permian Basin. We think AREX will outperform on a relative basis given the heightened industry activity and greater investor interest in the emerging trends of Midland Basin."
For more ratings news on Approach Resources click here and for the rating history of Approach Resources click here.
Shares of Approach Resources closed at $21.58 yesterday.
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