Wunderlich Securities Sees Good Things Ahead For American Eagle Energy

In a report published Thursday, Wunderlich Securities analyst Irene O. Haas reiterated a Buy rating and $15.00 price target on

. In the report, Wunderlich Securities noted, “We visited American Eagle Energy (AMZG) at its headquarters in historic Littleton Colorado. We met with CEO Brad Colby, COO Tom Lantz and Marty Beskow, VP of Capital Markets and strategy. We like the direction AMZG is taking and if the company continues to execute, it might not stay in the microcap space for long. Divide County is gaining more ‘street cred'. SM Energy (SM-NR) announced on July 29 that it has acquired Baytex's (BTE-NR) Divide County Assets. This is just east of American Eagle Energy's Spyglass area. Post deal, SM will have 97,000 net acres. This part of the Williston is shallower and not over-pressured and while the IP rates are more modest, so are the drilling and completion costs; therefore it offers similar returns as compared with the deeper part of the Williston Basin.” American Eagle Energy closed on Wednesday at $5.52.