UPDATE: Goldman Sachs Initiates Coverage on Athlon Energy on Attractive Outlook, Good Upside
In a report published Tuesday, Goldman Sachs analyst Joseph B. Stewart initiated coverage on Athlon Energy (NYSE: ATHL) with a Neutral rating and $33.00 price target.
In the report, Goldman Sachs noted, “We initiate coverage of Athlon Energy with a Neutral rating relative to our Attractive coverage view and 10% upside to a $33, 12-month multiples-, DCF- and M&A-based target price vs. 23% average upside for our E&P coverage group. We think ATHL is a good vehicle for pure-play exposure to the Permian Basin and potential resource expansion in the Wolfcamp and Cline Shales. We expect share price performance to be tied closely to industry and company well results from these plays. Our Neutral rating reflects our view that the stock provides less than average upside potential to our price target and risked net asset value analysis.”
Athlon Energy closed on Monday at $30.00.
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