Atlas Energy price target lowered to $25 from $26 at RBC Capital

RBC Capital analyst Keith Mackey lowered the firm’s price target on Atlas Energy to $25 from $26 and keeps an Outperform rating on the shares. The company lowered its expected second-half EBITDA with a “disappointing” update that included increased costs to repair and optimize the Kermit mine plus weak performance of new dredges, the analyst tells investors in a research note. RBC adds it is looking for significant progress on its mining cost optimization and Dune Express commercial ramp-up in the coming quarters to remain bullish, though after the stock price pullback yesterday, it believes that its risk/reward proposition remains favorable.