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Stock analysts at Topeka Capital Markets began coverage on shares of Athlon Energy (NASDAQ:ATHL) in a report issued on Tuesday, reports. The firm set a “buy” rating and a $40.00 price target on the stock. Topeka Capital Markets’ target price suggests a potential upside of 29.62% from the stock’s previous close.

The analysts wrote, “We are initiating coverage of Athlon Energy with a Buy and $40 PT. ATHL holds ~102,000 net acres in the Midland Basin, which we believe are prospective for numerous horizontal zones. Based on our analysis, offset operators’ results have de-risked a majority of ATHL’s acreage for multiple horizontal zones. The greatest upside to the ATHL story is around the potential in Howard county (~55,000 net acres), which has seen less horizontal activity; however, early results and data from peers are encouraging.”

Athlon Energy (NASDAQ:ATHL) opened at 30.86 on Tuesday. Athlon Energy has a 52-week low of $25.25 and a 52-week high of $34.59. The stock’s 50-day moving average is $32. and its 200-day moving average is $30.77. The company has a market cap of $2.535 billion and a price-to-earnings ratio of 53.80.

Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil raised their price target on shares of Athlon Energy from $36.00 to $40.00 in a research note to investors on Wednesday, November 13th. They now have a “sector perform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Athlon Energy in a research note to investors on Tuesday, September 24th. They set a “neutral” rating on the stock. Finally, analysts at Simmons initiated coverage on shares of Athlon Energy in a research note to investors on Thursday, September 19th. They set an “overweight” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Athlon Energy currently has a consensus rating of “Hold” and an average target price of $34.50.

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