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UPDATE: Bank of America Initiates Atlas Resource Partners at Neutral on Limited Growth Visibility

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Bank of America initiated coverage on Atlas Resource Partners (NYSE: ARP) with a Neutral rating and a $25 price objective.

Bank of America commented, "ARP is an upstream MLP with long-life low decline matured assets, stable production and growing unit distributions. Our PO assumes ARP management's forecasted distribution of $2.35 - $2.50 in 2013 implying a peer average yield of 9.7% vs. current yield of 10.5%. Management has a long record of developing unconventional assets and has already secured substantial deal led growth since IPO in Mar 2012. However, our analysis suggests little scope for future distribution growth without additional acquisitions that lack visibility."

Atlas Resource Partners closed at $22.05 on Monday.

Latest Ratings for ARP

DateFirmActionFromTo
Nov 2015FBR CapitalDowngradesOutperformMarket Perform
Oct 2015FBR CapitalMaintainsOutperform
Sep 2015CitigroupMaintainsNeutral

View More Analyst Ratings for ARP
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Intraday Update Analyst Ratings

 

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