CVX To Acquire ATLS?

JP Morgan has published a research report on Atlas Energy (NASDAQ: ATLS), writing "Given our negative view of the U.S. natural gas market, ATLS stock could decline from current levels. However, CVX recently announced its agreement to acquire ATLS at an implied value of ~$44/share. ATLS is currently trading at ~2% below the implied transaction price."

JP Morgan maintains its Neutral rating and $44 price target.

Atlas Energy closed Friday at $43.40.