Rodman & Renshaw Maintains Market Outperform Rating and $12 PT on ATP Oil & Gas

A report from Rodman & Renshaw reiterates its Market Outperform rating and $12 price target on ATP Oil & Gas

. The report states, “One of the biggest knocks on ATPG is its liquidity position, so we're fans of assets sales…especially when they don't result in lost production or reserves. ATPG sold its interest in the deep rights (below ~23,500') in one of its Telemark Hub fields (the specific field and buyer were not disclosed).” ATPG closed yesterday at $7.51.