UPDATE: Goldman Sachs Downgrades Approach Resources on Worse Outlook for Growth/Returns

In a report published Friday, Goldman Sachs analyst Joseph B. Stewart downgraded the rating on Approach Resources (NASDAQ: AREX ) from Buy to Neutral, and lowered the price target from $34.00 to $30.00. In the report, Goldman Sachs noted, “We downgrade AREX to Neutral from Buy. AREX reported a largely