Athlon Energy started at Buy with $52 target at Mizuho

Athlon Energy (ATHL +2.1%) is initiated with a Buy rating and $52 price target at Mizuho, which calls the company a pure play on the Permian Basin with ~134K net acres in the Midland Basin.

ATHL's transition to more capital efficient, higher rate-of-return horizontal wells from vertical wells combined with nearly 100% production growth this year will drive share prices higher, Mizuho says, adding that further de-risking of horizontal plays likely will yield upside to its NAV.

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