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UPDATE: JP Morgan Upgrades Approach Resources to Overweight on Valuation

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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 2014Sterne AgeeUpgradesUnderperformNeutral
Aug 2014BairdDowngradesOutperformNeutral
Aug 2014Howard WeilDowngradesSector OutperformSector Perform

View More Analyst Ratings for AREX
View the Latest Analyst Ratings

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

 

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