Atlas Energy falls after Citigroup downgrades to 'neutral'

Atlas Energy Solutions

14/11/2024 15:02

** Oilfield services firm Atlas Energy Solutions'  AESI.N 
shares fall ~1.5% to $20.8
    ** Citigroup downgrades AESI to "neutral" from "buy"; cuts
PT to $22 from $23
    ** Brokerage says AESI's stock rallied despite its sand
production segment's fundamentals weakening
    ** "Rally pushed stock to a full valuation" - Citigroup 
    ** Nine of 11 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $23 - LSEG data
    ** Including session's moves, stock up ~22.7% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))