UPDATE: Sterne Agee Upgrades Approach Resources (AREX), Says Recent Selloff Overdone
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Price: $0.08 --0%
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
4 Buy, 11 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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(Updated - May 29, 2012 1:56 PM EDT)
Sterne Agee's Tim Rezvan upgraded shares of Approach Resources (NASDAQ: AREX) from Underperform to Neutral Tuesday morning as the analyst believes a recent pullback in the stock is overdone. Rezvan said the stock's price now "reflects a more balanced risk/reward outlook."
The analyst also said he likes Approach management's focus on the Permian Basin, especially considering Concho Resources' (NYSE: CXO) recent $1 billion deal within the region.
Shares of Approach Resources are up 5.7 percent to $29.95 at last check.
For an analyst ratings summary and ratings history on Approach Resources click here. For more ratings news on Approach Resources click here.
Sterne Agee's Tim Rezvan upgraded shares of Approach Resources (NASDAQ: AREX) from Underperform to Neutral Tuesday morning as the analyst believes a recent pullback in the stock is overdone. Rezvan said the stock's price now "reflects a more balanced risk/reward outlook."
The analyst also said he likes Approach management's focus on the Permian Basin, especially considering Concho Resources' (NYSE: CXO) recent $1 billion deal within the region.
Shares of Approach Resources are up 5.7 percent to $29.95 at last check.
For an analyst ratings summary and ratings history on Approach Resources click here. For more ratings news on Approach Resources click here.
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