UPDATE: JP Morgan Upgrades Approach Resources to Overweight on Valuation
JP Morgan raised its rating on Approach Resources (NASDAQ: AREX) from Neutral to Overweight and increased its price target from $28.50 to $39.50.
JP Morgan commented, "We are upgrading AREX to Overweight from Neutral based on catalysts and valuation. While other small caps also have above average production growth, AREX is the only small cap on our coverage list with the combination of above average growth and a relatively attractive valuation."
Approach Resources closed at $29.53 on Monday.
Latest Ratings for AREX
|Sep 2014||Sterne Agee||Upgrades||Underperform||Neutral|
|Aug 2014||Howard Weil||Downgrades||Sector Outperform||Sector Perform|
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