Archaea Energy downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Michael Blum downgraded Archaea Energy (LFG) to Equal Weight from Overweight with a price target of $26, up from $25, following BP‘s (BP) offer to acquire the company. The analyst believes the likelihood of a revised offer or outside bid is low, implying little upside from here with the stock trading in line with the $26 per share takeout bid.