Antero gets Buy ratings from Jefferies, Barclays

Antero Resources (AR +4.3%), which made its debut on the NYSE just last month, is winning nods of approval from investment banks recently, with Jefferies and Barclays the latest to initiate coverage with Buy ratings.

Foreseeing consistent, long-term production and reserve growth, Jefferies issues a $75 price target on the stock, while Barclays comes in at $63.

Production from AR’s wells in the Marcellus and Utica shale formations is expected to rise 76% next year and 47% in 2015, Barclays believes.

AR's Appalachian acreage is contiguous, which allows for longer laterals, efficiency gains, bolt-on acreage purchases at discounted pricing, and economies of scale, Jefferies says.

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