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

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Wunderlich Securities Sees 4Q Miss Due To Operational Issues And Weak Realizations For Atlas Resource Partners

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
Jun 2015Bank of AmericaDowngradesNeutralUnderperform
Jun 2015Wells FargoAssumesMarket Perform
Jun 2015Morgan StanleyInitiates Coverage onEqual-weight

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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