Market Overview

UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Approach Resources

Share:
Related AREX
Mid-Afternoon Market Update: Sears Tumbles After Bruce Berkowitz Resigns From Board; Exelixis Shares Surge
Mid-Day Market Update: TransEnterix Climbs Following FDA Clearance Of Senhance Surgical Robot; TG Therapeutics Shares Decline

In a report published Wednesday, J.P. Morgan reiterated its Overweight rating on Approach Resources (NASDAQ: AREX), but lowered its price target from $44.50 to $39.50.

J.P. Morgan noted, “We are updating our model based on our newest commodity price deck, which reflects our somewhat cautious view on crude and natural gas pricing, and the latest operating and financial data. Over the near term, AREX plans to release its 2013 production guidance and updated capex guidance and location count.”

Approach Resources closed on Tuesday at $25.70.

Latest Ratings for AREX

DateFirmActionFromTo
Aug 2017Imperial CapitalInitiates Coverage OnIn-Line
Jun 2017Seaport GlobalDowngradesHoldSell
Oct 2016SunTrust Robinson HumphreyUpgradesReduceHold

View More Analyst Ratings for AREX
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (AREX)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...