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Rating Summary:
10 Buy, 5 Hold, 0 Sell
Rating Trend: Down
Today’s Overall Ratings:
Imperial Capital initiates coverage on Approach Resources (NASDAQ: AREX) with a In-Line. PT $28.00.
The firm said completion of its infrastructure investment across its Southern Midland Basin acreage in the first quarter should enable the company to begin to move towards full development of its horizontal Wolfcamp Shale. Catalysts include: Year-end 2012 reserves, 2013 guidance, and an update to its drilling and recompletion location count.
For an analyst ratings summary and ratings history on Approach Resources click here. For more ratings news on Approach Resources click here.
Shares of Approach Resources closed at $25.59 yesterday, with a 52 week range of $22.36-$39.18.
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