Atmos Energy (ATO) PT Raised to $148 at Citi

Citi analyst Ryan Levine raised the price target on Atmos Energy (NYSE: ATO) to $148.00 (from $138.00) while maintaining a Neutral rating.

The analyst comments "Q1 Results — ATO’s reported $2.23 of earnings beat Street’s estimate largely driven by rate increases, waha/katy spreads, and system expansions offset by higher depreciation and O&M (safety and compliance initiatives). TP to $148 on improved fundamental outlook for gas infrastructure which drove a higher rate base multiple assumption."

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