Market Overview

UPDATE: JP Morgan Upgrades Approach Resources to Overweight on Valuation

Share:
Related AREX
15 Biggest Mid-Day Gainers For Tuesday
Mid-Afternoon Market Update: CIFC Rises Following Acquisition News; Marathon Oil Shares Slide
The Real Reason Oil Prices Just Fell (Seeking Alpha)

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

DateFirmActionFromTo
Sep 2015MacquarieDowngradesOutperformNeutral
Jun 2015SunTrust Robinson HumphreyMaintainsReduce
May 2015RBC CapitalMaintainsOutperform

View More Analyst Ratings for AREX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (AREX)

View Comments and Join the Discussion!