Atmos Energy initiated with a Neutral at UBS

UBS initiated coverage of Atmos Energy with a Neutral rating and $124 price target. The company operates under generally supportive regulatory frameworks that allow for 90% of capital expenditures to be contributing to earnings within six months and 99% within 12 months, the analyst tells investors in a research note. However, the firm believes much of the positive aspects of Atmos Energy’s growth are priced into the stock at a 10% valuation premium versus peers.