American Eagle started as a Buy, near-double at Wunderlich

|About: American Eagle Energy, Inc. (AMZG)|By:, SA News Editor

American Eagle Energy (AMZG +1%) is initiated with a Buy rating and $14 price target at Wunderlich, which foresees reduced costs and increased efficiency to result in higher reserves per well, better returns and shorter payback periods; while shares currently trade below peer average, the firm expects steady multiple expansion as AMZG continues to grow production and deliver strong returns.

Canaccord also starts shares at Buy, with a $10 price target, as it likes the company for its inventory of relatively low-risk, high return Bakken/Three Forks well locations in the Williston Basin.