UPDATE: J.P. Morgan Reiterates Overweight Rating, Lowers PT on Approach Resources
Posted on January 30, 2013 at 14:19 PM EST
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