(Atlas Pipeline article updated for closing prices)
MOON TOWNSHIP, Pa. (
) -- Shares of
Atlas Pipeline Holdings
jumped 40% in trading on Tuesday after a
analayst upgraded the name to hold from sell.
Volume in Atlas Pipeline shares reached 2.3 million during the regular session, more than 20 times its daily average of 100,000. Atlas stock added $2 to close at $7, equaling its 52-week high, reached almost a year ago in January.
In November 2008, Citigroup made a major negative call on Atlas, downgrading the natural gas stock to sell.
announced its deal to acquire
last Monday, the market has taken notice of natural gas stocks.
Exxon-XTO deal, viewed as a big bet on the gas sector, is expected to set off a wave of mergers and acquisitions among energy companies. Market chatter has pointed to independent energy producers like
as potential targets.
-Reported by Eric Rosenbaum in New York.
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