Wolfe Research initiated coverage of Atmos Energy (ATO) with a Peer Perform rating and $155-$162 fair value range. Atmos offers a “unique blend of strong growth” and constructive regulation, the analyst tells investors in a research note. However, the firm views these positives as fairly valued at the company’s current premium given its “sizable” equity needs. As such, Wolfe looks for a better entry point.
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